HOW
TO CHOOSE THE RIGHT MORTGAGE
FOR YOUR SITUATION
What
are your goals in refinancing?
YOUR
GOALS
Most people refinance to get a lower interest rate. There
are also many other for doing so:
- Consolidating
your First and Second Mortgage
- Paying
off high interest rate credit cards
- Pulling
cash out for home improvements
- Paying
off back taxes
Basically,
any reason you can come up with.
What
is the Cost to Refinance?
Refinancing involves paying off the existing mortgage,
which may or may not have a pre-payment penalty. If this is
the case you need to estimate 6 months of interest to your
existing balance. Plus all of the additional closing costs.
But you can minimize your closing costs with discount points.
Does
the Cost Justify the Benefits?
Depending on your goals, you need to look at the time
your break even, or your new monthly payments, and if you
pulling cash out to pay bills which will help your financial
status usually immediately.
Apply
for a Refinance Loan
APPLY NOW and get a free credit
check and evaluation.
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