|You Can Refinance To Take Advantage Of Change
What does Refinancing mean? Refinancing a home loan means replacing your existing loan with a new one. Depending on the market and your personal situation, there can be many advantages to refinancing:
- Reduce your monthly payments with lower interest rates or by extending the repayment period.
- Reduce your interest rate risk by switching from an adjustable-rate to a fixed-rate loan or from a balloon mortgage to a fixed-rate loan.
- Reduce your interest cost over the life of your mortgage by taking advantage of lower rates or shortening the term of your loan.
- Pay off your mortgage faster, accelerate the build-up of your equity by shortening the life of your loan.
- Free up cash for major expenses or to consolidate debts.
The best resource for determining if a refinance loan is right for you is a The Hanna Team Professional. Our Mortgage Professionals are equipped with the experience and knowledge to guide you through the multitude of options available and help you take advantage of change.
Benefits of Home Refinancing
Imagine a scenario where you can have access to extra cash, while simultaneously lowering your monthly mortgage payment. This dream can become a reality through mortgage refinancing with The Hanna Team.
The largest asset you may ever own could be your house. Also, your mortgage payment may be the largest expense you'll have in your monthly budget. Wouldn't it be beneficial to leverage this asset to reduce your monthly payment and put extra cash in your pocket? When you refinance your mortgage through The Hanna Team, you can take advantage of the equity in your home and put more cash in your pockets today!
Lower Refinance Rate, Lower Payments
When you purchased your dream home, the financial environment dictated interest rates. While certain factors, like your credit rating and the amount of the down payment that you were able to afford, influenced your interest rate, the single most important factor was the prevailing rates at that moment. However, interest rates fluctuate.
By refinancing your mortgage when interest rates are lower, you can exchange a higher interest rate for a lower one, which, in turn, will lower your monthly payment.
>> More about debt consolidation