Issues such as credit trouble, a tight monthly budget, and affordability of your mortgage are all excellent reasons to consider a refinance! Mortgage refinancing is a loan program that provides new financing for your existing property by discharging the mortgage with the proceeds from a new mortgage obtained at a lower interest rate; in other words, you are trading your current mortgage for one at a lower rate, but with an increased term period.
Reasons to refinance are plentiful, due to the features offered by a mortgage refinance. The most popular motive to do a refinance is to lighten the monthly load on your finances. With this type of loan program, you will enjoy such benefits as a lower interest rate, a lower monthly payment, and the option to consolidate your debt. Debt consolidation can prove to be quite useful for homeowners who have multiple credit card debt and need to introduce a sense of organization into their financial schedule. With the debt consolidation feature, all your debt will be consolidated into one affordable payment each month. Using a refinance to help out is ideal for homeowners who need to free up some cash each month in order to finally be able to save up.
With plenty of variations on mortgage refinancing available, finding a suitable loan program that is both affordable and effective has never been easier. Some of our popular mortgage refinance programs include:
Cash-out Refinance |
An option which allows you to service the original mortgage and also provides a lump sum amount in cash. Cash-out Refinance operates on the basis of your equity in your house property and the appraised value of your home. |
No Closing Cost Refinance |
A program without any closing costs! Our "No-Cost" program will lower your rate at no cost to you. We pay all of the closing costs: title fees, appraisal fees, and credit report fees. There are no loan fees or prepayment penalties, and nothing is added to your loan balance. |
Bad Credit Refinance |
A loan designed to conform to the needs of those with less than perfect credit. Often times, this method is used as a credit repair program or to help homeowners with bad credit qualify for a mortgage refinance. |
Finding out whether refinancing is right for you is just as easy! For a general answer, use our “Should I Refinance?” mortgage calculator. This free mortgage tool helps you assess the assured cost savings incase you consider a refinance. This mortgage calculator takes into consideration factors such as: remaining interest on a mortgage, value of a new loan, monthly mortgage payments and interest on a new mortgage. If it’s a detailed quote you are looking for, we have loan officers that work around the clock to ensure that you get what you need, when you need it. Feel free to call us at 1-800-880-4202 to talk to one of our knowledgeable loan officers today!
