Refinance to lower your interest rate. If rates have dropped since you last financed your home, you may want to consider refinancing. Other common reasons to refinance include paying off a balloon payment, converting an adjustable rate loan to a fixed rate loan or to extract cash equity in your home (cash out). A few reasons for cashing out include: home improvement, an education fund, and consolidating debt.
Another way to convert equity in your home to cash is a “home equity” loan. A “home equity” loan is an alternative to refinancing if your home loan has a very low rate compared to current interest rates or if you have a prepayment penalty on your loan.
Benefits:
- Reduce Your Interest Rate
- Cash Out Equity for Home Improvements
- Consolidate Debt
- Lower Monthly Payments
To Refinance You’ll Need:
- Current Appraisal and Analysis
- Verification of Assets and Income
- Click Here To See Paperwork Needed