Rate and Term Refinance
Make Your Mortgage Work For YouWith interest rates near historical lows, it is a perfect time to look at lowering your monthly payments or shortening the term of your current loan. Even if you think the rate may not make that much of a difference, give your Mortgage Consultant the opportunity to run the numbers and see if you can make your mortgage work for you.
What is a cash-out refinance?
If you have enough equity in your property, you can refinance with a loan amount greater than your current mortgage and keep the difference in cash. You can use the money for home improvement, debt consolidation or any other need you may have.
Why would I want to refinance my current loan?
Many homeowners look to refinance when the interest rates decline or they have a change in financial circumstances. Refinancing is done to save money by obtaining a lower interest rate or reducing the term of the loan. Refinancing can also be done to convert an adjustable-rate loan to a fixed-rate loan or to consolidate debts. Our experienced mortgage consultants can help you make an informed decision.