What are the advantages of Refinancing?
• Savings – Consolidate debt and reduce your overall monthly payments. • Stability – Convert your adjustable rate to a fixed rate. • Tax Deduction – Take cash out for debt consolidation and your new payments may be tax deductible (consult your accountant). • Increased Value – Take cash out and complete home improvements or additions. Enjoy your home’s enhanced and increased value.
There are a variety of reasons you may want to refinance your home. You can reduce your total interest costs by refinancing at a lower interest rate or for a shorter term. You can lower your monthly payment by refinancing to extend the term of your loan or convert from a fixed interest to an ARM. You can pay off your loan faster by refinancing to a shorter term loan. You can refinance to cash out some of your equity and use that equity for home improvement, college financing, or other major expense.
There are a variety of reasons you may want to refinance your home. You can reduce your total interest costs by refinancing at a lower interest rate or for a shorter term. You can lower your monthly payment by refinancing to extend the term of your loan or convert from a fixed interest to an ARM. You can pay off your loan faster by refinancing to a shorter term loan. And, you can refinance to cash out some of your equity and use that equity for home improvement, college financing, or other major expense.
