WE HAVE A MORTGAGE SOLUTION FOR YOUR UNIQUE SITUATION
Mortgage Loan Refinancing refinances your original mortgage loan with a new loan. It offers certain benefits, such as lowering mortgage payments and potentially decreasing lifetime interest costs. You can use a Mortgage Repayment Calculator to see if this is the case with the new loan you are considering.
When to consider Mortgage Loan Refinancing:
- Your credit rating has improved since you obtained the first loan.
- You have an adjustable rate mortgage or a mortgage with a balloon payment.
- Current interest rates are lower than your existing rate.
- You plan to keep the loan for a considerable amount of time.
- It would benefit you to decrease your payment term, for example, move from a 30 year mortgage to a 15 year mortgage.
- You would like to capitalize on your existing equity with a cash-out refinance.