Mortgage Refinancing
There are many great reasons to consider mortgage refinancing. Tell our Mortgage Specialists what you hope to accomplish, and we will help guide you to a decision that best meets your financial goals.
Mortgage Refinancing
Benefits of Refinancing
- Potentially Lower Your Monthly Payments — Your current financial profile will determine the percentage rate, loan term, and monthly payment for which you qualify. Depending of the term of your current loan, available loan rates, and improvements to your credit score, it may be possible to lower your monthly payment through refinancing.
- Adjustable Rate Mortgage (ARM) — Review your current rate. Sometimes an Adjustable Rate Mortgage is your best bet. Or, if the rate of your current ARM is on the rise, talk to our Mortgage Specialists about the options for converting to a fixed-rate loan.
- Pay Off Your Mortgage Sooner — Refinancing to a 15-year mortgage, as opposed to a 30-year mortgage, will allow you to pay down your balance faster. As an additional benefit, the interest rate offered on a 15-year mortgage is often lower than the traditional 30-year loan.
- Private Mortgage Insurance (PMI) — Private mortgage Insurance is required when your home’s equity is below 20%. If your home’s equity has exceeded 20%, you may be able to eliminate PMI.
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