Should I refinance?

Below is a list of some common reasons to refinance. If you meet any of the criteria, you may want to fill out a short, no obligation, application with. You will be connected with the nation's top loan sources, all competing for your business. The application is fast and easy.

To save money with lower interest rates.

This is the most common reason people choose to refinance their mortage. If you obtained your mortgage when rates were higher, you may save money by refinancing.

It used to be, that lenders would use "2 percent" as the rule of thumb for how much lower a mortgage rate should be to consider refinancing. Now, there are many low or "no cost" mortage refinancing programs available. To find out if you qualify for a no cost mortgage refinance loan, fill out this brief application to be submitted to many of the top lenders.

To Convert equity into cash.

If you’ve held your home mortgage for a good amout of time, most likely, you have signifantly reduced the principal of your loan which may mean that you will be able to finance a greater amount than you owe on your current mortgage loan. If this is the case, you can use the difference (cash), to pay for other, pressing needs.

To speed up your building of Equity

If you have more financially stable than you were when you first purchased your home, you may want to convert to a shoerter term loan. A common change is from 30-year to 15-year. The monthly payments may be higher, but your interest cost will be lower if you obtain a better rate. This allows you to build equity faster.

This reason for refinancing is popular with people who are nearing retirement because it gives them the opportunity to own their home before they retire.

To Convert from an ARM (Adjustable Rate Mortgae) to a Fixed Rate Mortgage

If mortgage rates are low, it may be wise to "lock in" to a fixed rate mortgage.