Refinancing your home can be a smart financial choice to meet a variety of needs. If interest rates are
lower or you have a current financial need, it may be a great time for you to refinance. Depending on
your circumstances, benefits may include:
Lower Interest Expense
You can reduce your interest cost over the life of the mortgage by taking advantage of lower rates and/or
shortening the term of your loan.
Lower Monthly Payment
If your monthly payment is more than you prefer on your current home loan, you can explore the options
of a lower interest rate or longer term mortgage loan to lower your payments.
Perhaps your debt load is stressful and you want to explore ways to use your home mortgage
loan to help you consolidate higher interest rate loans. You may benefit by having one monthly payment
and pay less in interest.
Increase Equity Faster
If you are looking to increase the equity in your home faster you may want to refinance by shortening the
repayment period on your home loan.
You can use the equity in your home to receive extra cash to help with a home improvement project.
Contact us to see if refinancing could be beneficial for your situation.