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Mortgage Refinancing

Benefits & Options
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How Can Mortgage Refinancing Help Me?

Unlock the benefits of refinancing.

  • Combine Multiple Mortgages into One
  • Decrease Your Monthly Mortgage Payment
  • Consolidate & Eliminate High Interest Debt

Did you know that it’s possible to refinance to access your home’s equity and obtain cash for your financial goals? This is a powerful tool that homeowners can use to get cash to renovate, restructure their finances, buy a vacation home, invest, and much more. The funds can be used for almost any purpose.

Our Mortgage Specialists are mortgage refinancing experts with access to dozens of home loan lenders with loans to suit your unique requirements. Combined, our lenders offer hundreds of products to select from, so rest assured there are options to get you what you need.

Combine Multiple Mortgages into One

Some homeowners have first, second, and even third mortgages. If you have multiple mortgages, it’s likely that the interest rate on the second mortgage (or other mortgages) is higher than what you are paying on the first mortgage. At some point, it makes sense to refinance to obtain a new first mortgage that combines all of your various mortgages into one mortgage at a lower overall payment and interest rate that can save you money.

Interested in Lowering Your Monthly Mortgage Payment?

The family home is usually the most valuable thing that most homeowners own, and the mortgage payment is typically the largest debt payment they have to make each month. If there’s an opportunity to reduce monthly debt payments, it makes sense to consider the alternatives. One way to accomplish this is by refinancing your mortgage.

There are two main ways to obtain a lower mortgage payment through a mortgage refinance.

1. Refinance at a lower interest rate.
2. Increase the length of the repayment term.

When the mortgage interest rate is lower, this reduces the monthly mortgage payment because you are paying less interest each month on the amount borrowed. You can also reduce the mortgage payment by increasing the length of the repayment term, which then stretches the payments out over a longer period. Reducing the mortgage payment can increase your monthly cash flow and relieve financial stress.

Use the Equity in Your Home to Manage Your Debt

Debt outside the mortgage like car loans, department store cards, and credit cards can add up quickly. Why pay numerous debts in separate payments when you can combine them all into one lower convenient monthly payment that can save you time and money? Combining multiple debt payments into one lower monthly payment is called debt consolidation. A debt consolidation can save you thousands and increase your monthly cash flow. It can also improve your credit scores and give you great peace of mind.

Own a Home? Do You Need Cash? A Mortgage Refinance Can Help

You can refinance your mortgage to tap into the equity in your home to obtain cash for a variety of purposes. If you need cash for home improvements, to pay for school, to pay back taxes, or other reasons, a mortgage refinance can allow you to access large sums of cash, provided there is enough equity in your home. The ability to tap into your home’s equity to obtain cash is a great benefit of home ownership.

Interested in Paying off Your Mortgage FASTER?

Some homeowners prefer to pay off their mortgage faster by refinancing the mortgage to reduce the loan term. With a shorter mortgage repayment term, the monthly payments are higher (because you have less time to pay off the same loan amount), but you will pay off the mortgage faster and save thousands in interest over the length of the mortgage. Also, you’ll accumulate equity faster because a greater portion of the monthly mortgage payments will go toward paying off the principal balance instead of toward interest.

Ready to get started? Apply online today or give us a call.

Apply now to:

  • Find out how we can help you.
  • Find out how much you can save.
  • Confirm how soon we can close your home loan!

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