Refinance Your Mortgage
There are times when it is beneficial for you to refinance your existing mortgage. It is always best to have a plan when refinancing, whether it be to save money, lower your bills, start a new project, etc. Here are some of the important reasons to consider refinancing:
Lower your interest rate-
Knowing where interest rates are is an important thing for any homeowner. With rates moving up and down frequently, knowing what the current rates are can allow you to refinance your loan to a lower interest rate. This will result in smaller monthly payments as well as lower interest cost over the entire loan. Click here to see how much your new payments can be.
A great way to save yourself money is to consolidate all of your debt into a single low rate mortgage. Debt such as credit cards or medical bills, typically have high interest rates and are considered to be bad debt. A mortgage however, is considered to be good debt and has a lower interest rate. This will result in a savings for you in the long run, as well as make it easier for you to make a single payment. Click here to see how much you can save by consolidating.
Take cash out of your home-
Throughout the years of homeownership, you pay off a portion of your mortgage and gain equity in your home. This equity is available to you should you want to use it for things such as home improvements, college tuition or other various investments.
Stop your payments from increasing-
Converting your adjustable rate mortgage into a fixed rate mortgage can end up saving you a lot of money when your rate adjusts. If your rate increases to a level greater than the going fixed rate, then you are paying too much for your loan. Also to avoid the uncertainty of a varying rate, it may be in your best interest to refinance into a secure, fixed rate mortgage.
As always, Capital Mortgage Funding offers to you the following advantages when refinancing your mortgage with us:
Easy, secure online application
Variety of mortgage programs
Guidance and advice from an experienced loan professional
To begin the refiancing process, apply online now or give us a call at 1-800-LOW-RATE.