Reasons To Consider a Mortgage Refinance:
- Consolidate High Interest Debt: Even with less-than-perfect credit we can help you lower your monthly payments by paying off high interest debt such as credit cards and personal loans. By consolidating your payments into one low monthly payment, you can pay less each month, lower your debt, and improve your credit score. Mortgage rates are always much lower than credit card and personal loan rates. Take advantage of your homes equity and consolidate your debt into one low monthly payment that’s easy to manage.
- Refinance To A Shorter Term: The shorter the term on your mortgage the lower the rate and total overall interest paid. Many clients that start out with a 30YR mortgage will refinance to a 15YR mortgage when market conditions are favorable to do so.
- Pull Cash Out For Home Repairs: Been putting off that kitchen or bathroom remodel? By accessing your home’s equity, you can pull the cash you need to get the job done. You can also pay off those home improvement credit cards, all at the same time!
When To Refinance Your Mortgage?
When you are ready to take the next step, contact Lendmire. We can advise you on which refinance program best fits your needs.
Applicants should not assume that any debt will be eliminated by refinancing since the debts are consolidated into a new loan. As a result of refinancing, your total finance charges may be higher over the life of the loan. Payments may reflect longer loan terms and higher interest charges over the life of the loan. Interest and other charges, if assessed, will accrue from the date of disbursement of the loan funds until the first payment is due. Low documentation programs may have a higher interest rate, more points and more fees than other products requiring documentation.