Which Refinancing Program is Best for You?
   
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There are an enormous number of refinancing options available to borrowers. We can help you find the refinance loan program that can fit your needs the best. Call us at - to get things started. There are some general questions to ask yourself as you review your options.
Reducing Your Monthly Payments

Are your refinance goals to lower your rate and consequently your mortgage payments? In that case, applying for a low, fixed-rate loan could be a wise choice for you. An ARM (Adjustable Rate Mortgage) or a fixed mortgage with a high rate are loan programs that you might want to refinance. Different that the ARM, your low fixed rate mortgage will stay at a certain low rate for the life of the mortgage, even if interest rates rise. If you are not expecting to move in the near future (about 5 years), a fixed-rate mortgage can particularly be a good loan option. However, an ARM with a initial low payment could be a smarter way to lower your payments if you expect to move in the next few years.
Getting Out some Cash

Is "cashing out" your primary purpose for your refinance? Your home needs new carpet; your daughter has been accepted to college and needs tuition money; or you are taking your family on a cruise. So you will need to get a loan higher than the balance remaining on your present mortgage.In this case, you want to qualify for a loan program for a bigger number than the balance remaining on your existing mortgage loan. If you've had your existing mortgage loan for quite a while and/or have a high interest mortgage, you mightcould be able to do this without increasing your mortgage payment.
Consolidating Your Debt

Do you have other debt, perhaps with high interest, that you'd like to consolidate? If you have a fair amount of equity, taking care of other debt with higher interest that your home loan (credit cards or home equity loans, for example) could help save you a chunk of cash each month.
Building up Equity More Quickly

Are you wanting to fatten your equity faster, and pay your mortgage loan off more quickly? If this is your goal, the refinance can move you to a mortgage loan program with a short, for example: a 15 year loan. You will be paying less interest and growing your home equity faster, although your mortgage payments will generally be higher than you were paying. However, if you have had your current thirty-year mortgage loan for a number of years and the remaining balance is rather low, you might be do this without increasing your monthly payment — you may even be able to save! To help you figure out your options and the many benefits in refinancing, please contact us at -. We can help you reach your goals!
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