Rates and Terms
If you’re looking to refinance your mortgage, it’s important to know what interest rates, monthly payments, and loan terms may be available to you.
A half of a percent difference in your rate could mean thousands or tens of thousands of dollars in savings over the life of your loan. Shortening your loan’s term may mean you could pay it off sooner and be able to enjoy your home debt free.
No matter what you’re trying to achieve, click the link below to see if you qualify for a better deal on your rate or term.
A cash-out refinance replaces your existing mortgage with a new loan. You’ll borrow from what you owe on your current loan, and the cash will be taken from your home’s built up equity (the difference between your home’s current market value and the mortgage balance remaining).
Many people consider using the cash for home improvements, so you end up building equity right back into your home through the renovations.
Take advantage of potentially lower mortgage rates so you can cash out today.
Click below and take our Cash-Out Quiz!
The Federal Reserve periodically adjusts federal loan interest rates to stimulate or slow down the economy, and being familiar with rate trends is crucial when you’re looking to refinance your home loan.
To qualify for most loans, you need the following: decent credit, sufficient income, and a form of equity; there’s even government-sponsored loan programs for those with less-than-ideal credit or income!
Lower interest rates and better loan terms may be possible for you. If you’re unsure if you qualify, but want to potentially save money, click the link below.