Piggy bank, house keys, calculator and bills in preparation for refinancing

Top 3 Reasons To Refinance Your Property & If It’s Right for You!

Most people refinance their property within 5 years and there are some simple reasons.

  1. If you are currently in an FHA loan and your property value has gone up and you want to get rid
    of your mortgage insurance. FHA requires mortgage insurance for the life of the loan so we see
    many people after a few years switching to drop that mortgage insurance and sometimes even
    cutting down there turn while keeping the same mortgage payment.
  2. Are you looking for some additional cash to do a home renovation, pay for a child to go to
    school or simply want to set up a reserves account? Refinancing your home could be a great
    option for you. Since rates are at historic lows you can refinance your property and sometimes
    have the same or a less of a mortgage payment. Contact your local mortgage broker and they
    can run some quick numbers to make sure you have a tangible benefit.
  3. Is your interest rate higher than todays interest rate? If so, you are paying more in interest than
    you have to. Refinancing to just lower your interest rate (no cash out) can be a great option and
    potentially save you hundreds of dollars a month. Do not miss the opportunity to cut your
    monthly costs down waiting.

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