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 Prevent
Foreclosure
Refinancing your existing mortgage is perhaps the easiest
and most logical way to help save you from foreclosure. With
the recent fallout of the subprime lending market, tens of
thousands of Americans are in search of a solution to their
mounting mortgage payments. We can help.
Lower your interest rate
Securing a lower interest rate is one of the top reasons
people refinance. Just be sure that the loan you
choose is the best loan for you. A loan is more than
just the interest rate because a loan with bad terms can
cost you more in the long run.
Change your loan program
Many homeowners who start with Adjustable Rate Mortgages
desire to move to the stability of a Fixed Rate mortgage
later on down the road. You may be in a Fixed Rate mortgage
and anticipate moving within the next 5 years.
Circumstances change over the years and you never want to
pay more than you have too on your mortgage.
Credit score has improved
If your credit score has improved as a result of making your
mortgage payments on time and in full or paying down your
debt, you may be in a position to take advantage of your
improved credit standing.
We can review your current credit score, the terms of your
existing mortgage, and use a Total Cost Analysis to help us
find the loan that benefits you the most.
Combine your 1st and 2nd Mortgages
It is very common to use your line of credit and then
combine the two loans into one loan at an overall lower
payment.
Refinance to Access Cash
Think of the equity in your home as a savings account that
you could access through cash-out refinance. You may want to
finance an important home improvement that will increase the
value of your home, pay for college or pay off high interest
credit card debt (read below). Whatever your reason, this
may be the right option for you.
Refinance to Pay Off Credit Cards And Other Debt
The difference between credit card debt and a mortgage can,
financially speaking, mean thousands of dollars. Why? Credit
card debt is compounded where the interest on a mortgage is
simple, and often tax deductible. Using the equity in your
home rather than credit cards to finance expensive purchases
can save you money paid in interest in the long run. Be sure
to consult your tax advisor.
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Discover
important mortgage tools to help guide you in your
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