There are excellent reasons to refinance
Homeowners refinance for a variety of excellent reasons. Some — maybe you — want to take advantage of historically low interest rates that weren’t available when you purchased your home. Similarly, some want to convert unpredictable adjustable-rate mortgages to fixed-rate mortgages so they can budget more easily. (And rest more easily, too!)
Others have found themselves in a better financial situation than when they purchased their house. They’re able to make larger monthly payments and are hoping to shorten the term of their loan — and save thousands in interest over its full term.
Still others want cash to send their kids to college, pay off debt, purchase a vacation home or make some much-needed home improvements.
Whatever your goal, the experts at Family Finance Mortgage may be able to help you accomplish it through refinancing — and save you money in the process.
SHOULD I REFINANCE MY HOME?
We’ll be the first to say it: Refinancing isn’t right for everyone. If you don’t plan to stay in your house for very long, have been paying on your mortgage for over a decade or have experienced a drop in your credit rating, refinancing might not be the best solution — or a solution at all.
Those interested in refinancing should carefully weigh the pros and cons before taking the plunge. The experts at Family Finance Mortgage can help you do just that. Contact us or request a free loan analysis today.
Refinancing your home loan affords you several options: borrow just enough to pay off the original mortgage; or, potentially borrow more depending on your home’s equity.
Because of the costs and risks that can be involved with refinancing, it’s important to evaluate all of your options, and how each will impact your financial goals. Family Finance Mortgage loan specialists can help you determine whether refinancing is the right move for you.