The benefits of refinancing

Think refinancing is only a way to get a lower mortgage rate? Refinancing can help homeowners accomplish other important financial objectives as well. Here are some of the other benefits of refinancing:

Cash out on some equity. If you have enough equity, you may be able to tap it to consolidate debts or pay for home renovations.

Switch from an ARM to a fixed-rate home loan. If you plan to be in your home for a while, refinancing can get you out of an adjustable-rate loan and into a fixed rate one.

Combine a first and second mortgage. Some homeowners refinance to combine a first and second mortgage into one low-rate home loan.

Switch from a 30-year mortgage to a 10-year or 15-year home loan. Switching to a shorter-term home loan can help you pay off your mortgage faster.

Visit us today to learn whether refinancing makes sense for you.