Refinance

• Wondering if you should refinance your home mortgage? Curious about the process? Trying to figure out if it’s the right move in your situation? To prepare to refinance, here are some of the elements you should consider.

WHY DO YOU WANT TO REFINANCE YOUR HOME MORTGAGE?

Before you apply to refinance your home mortgage, you may want to think about your reasons for doing so. There are a number of reasons that people work with mortgage brokers to refinance, and they include some of the following:

• • You want to lower your interest rate
  • You want to reduce your monthly payment
  • You want to consolidate debt
  • You want to shorten or lengthen the term of your mortgage
  • You want to switch from an adjustable interest rate to a fixed interest rate
  • You want to get your mortgage guaranteed by a group such as the Federal Housing Administration, the US Department of Veterans Affairs, or the US Department of Agriculture
  • You want to take out some of your home’s equity to use for home renovations, college tuition, starting a business, or other expenses
  • You want to take out a line of credit against your home’s equity

Your objective may dictate the type of refinance mortgage that is best in your situation.
To identify the best type of loan, contact our qualified mortgage professionals to learn more.