Benefits of Refinancing: There are many benefits to
refinancing. Below are some bullet points on why you should refinance:
- Reduce your monthly mortgage payments resulting in more money in
your pocket each month.
- Get a lower rate
- Combine your first and second into one loan
- Reduce the term on your loan
- Consolidate your bills and lower your monthly payment. Potential
tax advantages with the consolidation program(please check with your
tax consultant)
- Take cash out for home improvements.
- Take cash out for any other goal you might have such as purchasing
an auto: down payment to purchase an investment property, etc.etc.
The big questions is: Should you refinance and
why or why not?
If you are simply trying to reduce your rate and term, the number calculations
are simple. Just take the total cost of obtaining your refinance and
divided by the monthly savings and this is how long it would take you
to break even and begin to realize the interest savings on this situation.
If you are trying to take cash out for the above stated reasons, then
you must obtain correct information about the best possible program
available so you can feel comfortable with your monthly payments and
interest rate.
Our consultants are there to explain every step of the process. They
will answer all your questions, evaluate your situation and come up
with the best possible solution.
THE KEY IS TO DEVELOP A RELATIONSHIP WITH A LOAN CONSULTANT WHO IS
KNOWLEGEABLE ENOUGH TO PROVIDE YOU WITH ALL THE OPTIONS AVAILABLE AND
THEM BOTH YOU AND THE CONSULTANT CAN ARRIVE AT THE BEST PROGRAM. TRUST
IS CRITICAL IN THIS SITUATION. IF YOU FEEL UNCOMFORTABLE DEALING WITH
A COMPANY OR LOAN OFFICER, CHANCES ARE YOUR GUT FEELING IS RIGHT.
The other big questions is should you purchase
and if so why?
Finding out what your present situation is and letting you know all
the costs associated with the purchase and all the costs after the purchase
can best answer the question. Many clients are so excited about obtaining
their dream home that they overlook the expenses that comes with the
home.
Our loan consultants are trained to talk to you about every single
aspect of the purchase process in terms you can understand. Both of
you will even go as far as projecting a budget so that you will have
an idea of the total package.
There are many programs out there that the process can be confusing.
This is the reason we will treat your purchase as if it was ours.
