Home Loan Refinancing
Refinancing is the process of paying off your existing mortgage with a new one. Many homeowners choose to refinance to lower their interest rate, which will lower their monthly payment, while others will refinance to shorten the term of their loan to pay off their mortgage sooner. Shortening the term of your loan will raise your monthly payment, but the money you save in interest over the life of the loan can make this a beneficial decision. Another reason for home loan refinancing is to cash out some of the equity you have built in your home.
Remember, only an experienced mortgage professional can tell you for sure whether refinancing is right for you. If you answer yes to any of the following questions, a home loan refinance may make sense for you:
- Would you like to lower your monthly payment?
- Would you like to pay off your mortgage sooner?
- Are you currently in an Adjustable Rate Mortgage?
- Have interest rates lowered since you first took out your loan?
- Do you need cash to pay for major expenses such as college tuition or medical bills?
If you answered yes to any of the questions above, home loan refinancing may be the right decision for you. Contact Maverick Funding today and speak with one of our experienced mortgage professionals about your home loan refinance... apply HERE.
Benefits of refinancing with Maverick Funding include:
- Lower monthly payment
- Shorten the term of your loan
- Consolidate other debts
- Use funds for home improvements
Find out if now is the right time for you to begin home loan refinancing. Apply online here to be pre-approved!