It’s time…. TO REFINANCE!
Not refinancing could cost you thousands of dollars!
There are various benefits and countless needs which a refinance can address.
You already have a property and that’s great, more than likely you have a mortgage payment that goes with it. You may be used to your payment amount or it may be more than you can handle. Either way, chances are that it can be lower. You may even need to use the equity you have to address any of the financial needs that cause you headaches and stress every month.
The biggest question is, should you continue on without taking action? There may be great benefit to you in refinancing!
- Monthly payment amount is to high or unaffordable.
- You still pay the old mortgage insurance premium amounts.
- You have other debt such as high interest credit cards or a vehicle which you can eliminate with cash.
- You have repairs or changes that need to be made to your property.
There are also various different kinds of refinances according to your specific needs.
There are options such as no cost refinances, for those who currently have an FHA loan wishing to refinance into another FHA loan. This option may allow you to lower your interest rate to today’s rates and possibly save half of the monthly mortgage insurance. A great way to make your current mortgage payment lower and free up monthly cash flow. In some cases you may refinance from an FHA loan to a conventional loan in order to get rid of mortgage insurance altogether, depending on your homes equity.
Another of the most popular refinances is the cash out refinance. This refinance is more for the customer who would benefit from trading some of the equity in their home for cash. This is the perfect option if you have other debts to pay off including, credit cards, high interest loans, vehicles and even home improvement. The cash out refinance is a great way to get out of debt and even a good idea if you wish to invest your money for a greater return on your investment.
It is important to remember that your home can be a financial tool to help you in times of need or make you more money. In many cases even the rich borrow money against their homes. The biggest reason to borrow against your home is because the money is cheap! At today’s interest rates, which will likely not be around much longer, it is a great way to secure the money you need for life’s situations.
At Primary Residential Mortgage Inc, we know that you are unlike anyone else. That your needs are unique and for that reason we treat you as such. If you need to know more about what benefits you have in refinancing, without guessing, we are here to answer your questions. You can contact our office at 305-777-0787 for more information and even speak directly to the experts. Our Division Manager, Aida Pimentel takes pride on her availability to our customers and she is available for you.
To contact us CLICK HERE or call 305-777-0787