Which Refinancing Program is Right for You?

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There are an enormous number of refinancing options available to borrowers. Call us at 702-796-3453 x3055 and we'll work with you to qualify you for the right refinance loan program for your financial needs. What do you hope to achieve with your refinance loan? Keeping in mind the information below will help you narrow your choices.

Lowering Your Payments

Are achieving lower mortgage payments and a better rate your main refinance goals? In that case, applying for a low, fixed-rate loan might be a good option for you. Maybe you are presently in a mortgage loan with a high, fixed interest rate, or a mortgage in which the interest rate varies : an adjustable rate mortgage (ARM). Even when rates get higher later, unlike with your ARM, when you qualify for a mortgage with a fixed rate, you lock in the low interest rate for the term of your mortgage. If you expect to live in your home for about five more years, a loan with a fixed rate may be an especially good choice for you. But if you do expect to sell your home more quickly, you will want to consider an ARM with a low initial rate to get reduced payments.

Cashing Out

Are you refinancing primarily to pull out some of your home equity for an infusion of cash? Your house needs improvements; your daughter has gone to University and needs tuition; or you are planning a special vacation. So you want to get a loan higher than the balance remaining on your current mortgage.With this goal, you need However, if your loan interest rate is high now and you've had it for a long time, you could be able to accomplish your goals without an increase in your mortgage payment.

Consolidating Debt

Do you want to pull out some equity to consolidate other debt? Yes you can! If you own some debt with steep interest (like credit cards or car loans), you might be able to take care of that debt with a loan with a lower rate with your refinance, if you have the home equity built up to make it work. There are multiple companies out there that offer options to consolidate debt. Companies that can process your payments include E-Payments Global,Merchant Service Advisor,Merchant HRMA, Federal Bankcard,Collection Merchants

Getting a Shorter Term Loan

Are you dreaming of paying your loan off more quickly, while beefing up your home equity faster? Then, you'll need to find out about refinancing to a short term mortgage - for example, a fifteen-year loan. Although your monthly payments will usually be more, you can save on interest; so your equity amount will build up faster. On the other hand, if your current long-term loan has a low remaining balance, and was closed a number of years ago, you may be able to make the move without paying more each month. To help you understand your options and the many benefits in refinancing, please contact us at 702-796-3453 x3055. We are here for you.

Want to know more about refinancing your home? Call us: 702-796-3453 x3055.