There are many reasons to refinance but the most important thing to remember is “The very best rate on the wrong loan will cost you more than a very good rate on the right loan.”
1. Lower your interest rate
Securing a lower interest rate is one of the top reasons people refinance. Just be sure that the loan you choose is the best loan for you. A loan is more than just the interest rate because a loan with bad terms can cost you more in the long run.
2. Build equity faster
To prepay or to save, that is the question. To get the most out of your loan you may need to adjust the way you pay your loan and yourself.
With an Equity Reposition Report we can show you how your money works and in every case money in the bank grows faster than extra principle payments.
3. Change your loan program
Many homeowners who start with Adjustable Rate Mortgages desire to move to the stability of a Fixed Rate mortgage later on down the road. You may be in a Fixed Rate mortgage and anticipate moving within the next 5 years. Circumstances change over the years and you never want to pay more than you have too on your mortgage.
We can provide you with Total Cost Analysis to find out what you can save with various loan programs.
4. Credit score has improved
If your credit score has improved as a result of making your mortgage payments on time and in full or paying down your debt, you may be in a position to take advantage of your improved credit standing.
We can review your current credit score, the terms of your existing mortgage, and use a Total Cost Analysis to help us find the loan that benefits you the most.
5. Use the equity you have established
A cash-out refinance allows you to tap into the equity you have built up in your home. You may want to pay off revolving credit card accounts, send a child to college, use the money for home improvements or personal expenses or meet your retirement goals by setting up a retirement account to fund your future.
6. Combine your 1st and 2nd Mortgages
It is very common to use your line of credit and then combine the two loans into one loan at an overall lower payment.
7. Reaching your financial goals
You may have a mortgage that is working against your retirement plan. You may also have equity that is sitting in your home earning no rate of return. Whatever the case may be your mortgage must match your financial goals.
Regardless of your reasons for wanting to refinance, my team and I are interested in helping you make a decision that works best for you.
We will begin by reviewing the terms of your existing mortgage program. It will be important for us to know the purpose of the refinance and how long you plan to stay in the home. Your financial goals are equally important because your mortgage needs to fit into your overall financial picture.
When you finish your refinance with our team our service continues with our Rate Watch Report. This monthly report will keep you informed on interest rate changes and how they affect your mortgage.
by Ralph Deeds 13 years ago
I just refinanced my home mortgage today--4% for 15 years. Closing costs around $1,900. This is the lowest interest rate in 50 or so years.
by shirleycarter 11 years ago
can i get out of this car loan with 19% interst rate
by nelly1 11 years ago
Can I get a mortage if I had a bankruptcy
by steveinorth 13 years ago
I want to refiance my auto loani want to reduce my loan apr
by confusedgirl99 13 years ago
I am a bit confused as to what the best path is for us to take. We purchased our home about 5...1/2 years ago. Right now we are in a 30 year fixed rate mortgage at 6.125. We need to add on to our home, but we can get a very small amount of cash out since home values have dropped and we've only been...
by Damodar Bashyal 11 years ago
Will you choose variable or fixed home loan?At this time of financial crisis and interest rate on the decline, would you lock it for 5.75% or go variable for 5.95%?
Copyright © 2024 The Arena Media Brands, LLC and respective content providers on this website. HubPages® is a registered trademark of The Arena Platform, Inc. Other product and company names shown may be trademarks of their respective owners. The Arena Media Brands, LLC and respective content providers to this website may receive compensation for some links to products and services on this website.
Copyright © 2024 Maven Media Brands, LLC and respective owners.
As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.
For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy
Show DetailsNecessary | |
---|---|
HubPages Device ID | This is used to identify particular browsers or devices when the access the service, and is used for security reasons. |
Login | This is necessary to sign in to the HubPages Service. |
Google Recaptcha | This is used to prevent bots and spam. (Privacy Policy) |
Akismet | This is used to detect comment spam. (Privacy Policy) |
HubPages Google Analytics | This is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy) |
HubPages Traffic Pixel | This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized. |
Amazon Web Services | This is a cloud services platform that we used to host our service. (Privacy Policy) |
Cloudflare | This is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy) |
Google Hosted Libraries | Javascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy) |
Features | |
---|---|
Google Custom Search | This is feature allows you to search the site. (Privacy Policy) |
Google Maps | Some articles have Google Maps embedded in them. (Privacy Policy) |
Google Charts | This is used to display charts and graphs on articles and the author center. (Privacy Policy) |
Google AdSense Host API | This service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy) |
Google YouTube | Some articles have YouTube videos embedded in them. (Privacy Policy) |
Vimeo | Some articles have Vimeo videos embedded in them. (Privacy Policy) |
Paypal | This is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy) |
Facebook Login | You can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy) |
Maven | This supports the Maven widget and search functionality. (Privacy Policy) |
Marketing | |
---|---|
Google AdSense | This is an ad network. (Privacy Policy) |
Google DoubleClick | Google provides ad serving technology and runs an ad network. (Privacy Policy) |
Index Exchange | This is an ad network. (Privacy Policy) |
Sovrn | This is an ad network. (Privacy Policy) |
Facebook Ads | This is an ad network. (Privacy Policy) |
Amazon Unified Ad Marketplace | This is an ad network. (Privacy Policy) |
AppNexus | This is an ad network. (Privacy Policy) |
Openx | This is an ad network. (Privacy Policy) |
Rubicon Project | This is an ad network. (Privacy Policy) |
TripleLift | This is an ad network. (Privacy Policy) |
Say Media | We partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy) |
Remarketing Pixels | We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites. |
Conversion Tracking Pixels | We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service. |
Statistics | |
---|---|
Author Google Analytics | This is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy) |
Comscore | ComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy) |
Amazon Tracking Pixel | Some articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy) |
Clicksco | This is a data management platform studying reader behavior (Privacy Policy) |