Do you know how much money you could save each month by refinancing your mortgage? If so, you've come to the right place.
Home Purchase
You may think that refinancing your home loan is a very expensive way to save money, but the reality is, it's not as expensive as you think. In fact, you can save thousands of dollars over the course of your mortgage, simply by refinancing your existing loan.
Construction-to-Permanent loan
A Construction-to-Permanent loan enables the borrower to shop for just one loan when building a new home.
It covers the financing during the building process and then transitions into a permanent loan once construction is complete, saving you the additional time and closing costs by providing a One-time closing instead of two.
You can Finance just the building of the new home as well as the land all in one loan.
Lower Your Interest Rate
If mortgage rates have dropped since you got your original loan, refinancing to a lower interest rate can lead to significant savings over the life of your loan. Even a small change in the rate can make a big difference.
Shorten Your Loan Term
Refinancing from a 30-year mortgage to a 15-year mortgage can help you own your house outright faster. This also builds your equity more quickly. You'll pay less overall interest with a shorter term, even though your monthly payments may be higher.
Tap Into Your Home's Equity
(Cash-Out Refinance)
If you need cash, a cash-out refinance lets you access the equity you've built in your home. This money can be used for major renovations, to consolidate debt, or for other major expenses. Be aware that a cash-out refinance means you'll be taking on a larger mortgage.
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