Take advantage of today's low rates
Lowering your interest rate can have a significant impact on your budget. Reducing your housing expense can allow you to increase the money available to pay down debt and/or add to savings.
If you are in a position to refinance from a 30-year loan program to a 15-year loan program you can more quickly pay down your mortgage debt. Refinancing to a lower rate with a similar term can also open the door to allow you to make additional payments of principal which can help you build equity faster.
Contact us if mortgage insurance was a requirement when you closed your loan so we can review your current situation and determine whether refinancing makes sense.
Are you in an adjustable rate mortgage (ARM) today? If yes, and you would like to switch to the stability of a fixed rate mortgage, apply now or contact us and one of our experienced team will review your current situation and provide you with comparative details.
Are current interest rates lower than the rate on your current mortgage?
Has the equity in your home increased?
Do you have a specific goal in mind for refinancing (lowering your monthly payment, paying off your loan more quickly, etc.)?
Calculate the number of months to break-even if you refinance the loan.
Calculate the effect of combining other debt with your home mortgage. If you select Credit Card, Auto Loan, or Other but leave the intereste rate blank, the calcualtor assumes a rate of 17.5%