Why do people refinance?
Lower Monthly Payments
Refinance to a lower rate reduces your monthly payments or keep making the same payment and pay off the mortgage sooner.
Convert To A Fixed Rate
Enjoy the peace of mind of a fixed rate without worrying about rate fluctuations and possible payment increases.
Reduce your monthly obligations by consolidating debt, reducing high-interest rate credit card debt by financing the debt into your mortgage and amortizing payments over a 30-year. Your debt payments will no longer fluctuate.
Take advantage of the equity in your property to make home improvements, pay off student loans, or pay unexpected bills or college tuition without resorting to high-interest rate consumer loans.
Reduce The Payoff Time
Refinance from a 30-year term to a 15-year term and pay off your mortgage in half the time and significantly reduce the interest costs.