If current market interest rates are lower than your home loan's rate, it may be an ideal time to consider refinancing. With our help, you can maximize your savings and improve your future outlook in several ways:
- You can lower your monthly mortgage payments, freeing up more cash
- You can apply for a "cash-back" refinance and use the funds for anything from college tuition to home renovations
- You can shorten your home loan's term for additional savings
- You can convert an adjustable-rate mortgage (ARM) into a fixed-rate loan for lasting peace of mind
- You can consolidate a first and second mortgage (often called a first and second lien) into a single loan
Fixed-rate or ARM?
A refinance offers the same options as your home's original mortgage, which means you will be able to choose from:
- Fixed-Rate Mortgages: These offer the prpedictability of a fixed interest rate for the life of your loan.
- Adjustable-Rate Mortgages: These enable you to take advantage of lower introductory interest rates and monthly payments
Start saving money faster with streamlined refinancing
If you have a FHA or VA mortgage, you may qualify for a Streamline Refinance. These offer lower monthly payments with less paperwork, and you may save on closing costs and fees, too.
