Right now may be the best time ever to refinance!
Would you like to lower your monthly payment, pull some cash out of your home for a much-needed home remodel, combine a first and second mortgage into a single loan, or switch to a different type of mortgage? You may be able to accomplish any of these goals if you refinance your current home loan.
Interest rates have fallen to historic levels, and now may be the perfect time to refinance.
Your mortgage interest rate is tied directly to your monthly mortgage payment, so a lower interest rate on a refinanced loan will typically mean a lower monthly payment. A lower interest rate on your home loan may help you build home equity faster.
When you refinance, you pay off your existing mortgage and create a new one, and the process is similar to the experience of obtaining your original home purchase mortgage. You’ll go through many of the same steps and pay similar closing costs as you did for your current home loan. In many cases, it is possible to roll many of your closing costs into the loan.
Guaranteed offers similar mortgage programs for both purchase and refinance loans, including HARP, FHA, VA, USDA, interest-only, fixed rate and adjustable home loans. If you are considering a refinance, call us. At Guaranteed, we understand that your home is a valuable financial asset, and we’ll be more than pleased to discuss your options for a refinance home loan today.