The decision on whether to refinance your home is a difficult one. People end up doing it for multiple reasons and usually have a lot of questions! Find out more about the option to refinance your home below, and let us know if you have any questions.
Do you have at least 20% equity in your home? You may qualify for the ability to refinance your home and take advantage of some of the solutions below. This is a big decision and one that, if a fit, we’d love to have with you. We’ll never try to sell you on something that you don’t need. We value your trust and the ability to place you in a better financial situation. Take a look at the solutions below and let us know if you want more information.
Would you like a lower monthly mortgage payment? Some people don’t even even realize they have a thing called a mortgage insurance premium that is added into their monthly mortgage payment. If you have a monthly mortgage insurance premium, refinancing would be an option to eliminate this from your monthly payment. The only catch to this, is that you need to have at least 20% equity in your home. If the balance you owe on your home is 80% or less of the current value of the home, you can potentially eliminate this premium from your payment.
Sometimes in life, we have the propensity to borrow more than we would have liked. Do you have high interest credit cards or loan payments that you would like to consolidate into one lower payment? Refinancing your home might be a solution for you to eliminate these monthly payments, by using the equity in your home to consolidate them. We care about your financial future, so let us see if this might be of value to you.
Do you have a home project that has been on your wish list for years, but don’t quite have the cash saved up? Do you have a dream kitchen you’ve always wanted? Maybe you want to turn your bathroom from just “a place” that you use every day into an oasis that you can use to escape the stresses of your day. Whatever you are looking to renovate in your home could turn into a reality by refinancing your home and having the equity in your home work for you!
Do you feel as if your current interest rate could be lower on your mortgage? Consider the option of lowering your interest rate and changing your mortgage from a 30 year to a 15 year. Some people believe this will end up doubling your payment, but that’s not the case. If you are in a position to pay off your home quicker, this could be a great option for you. As always, we care about your financial future, so let’s explore this option if you feel it could be a fit.