Mortgage Refinancing Facts
How do you like the sound of paying a lower interest rate on your mortgage? Or what if you could get the option of paying a fixed rate, rather than an adjustable rate? This is possible if you work with us for mortgage refinancing. A wise move to make if you don’t want to stay in that original mortgage and go through the bother of taking out a new one, a mortgage refinance could actually benefit you in a number of ways.
The Perks of Mortgage Refi
Once you have paid off your first loan, you can easily (and not to mention swiftly) take out a new one. This is a mortgage refi and it is the perfect choice for a borrower who has a pretty good credit history. Three of the main ways in which you can enjoy the perks of doing so include:
- Reduce your monthly payment – The first loan’s closing costs can be put into the new loan.
- Pay off your mortgage quickly – If you are in a situation whereby you aren’t making the kind of income you were when you bought your home, a mortgage refinance could be very helpful in offsetting your reduced income.
- Use your home’s equity – Tap into the equity that has built up on your home and use the costs to fund life’s little pleasures.
It is also possible to settle debts and further improve your credit score if you take the time to communicate and work with mortgage refinancing experts. The size of the interest paid on your mortgage could shrink too, so what are you waiting for? Getting the right guidance is critical to ensuring you obtain a low interest rate, so when you know the time is approaching to make the decision between taking out a new mortgage or refinancing an existing one, talk to one of our professionals!
If you need more information about mortgage refinancing or want help consolidating your debts, contact our team here at Paramount Equity at 855-333-5336.