Most Common Reasons for Refinancing a Home:

• Mortgage Rate Drops

If you own a home for an extended period, there is a high probability that you'll experience a few windows where rates drop low enough to justify a Rate and Term Refinance. A Rate and Term Refinance simply means that you are making a change to the rate or term of the loan, such as dropping from a 30 year to a 15-year note. Our mortgage professionals closely monitor daily rates and future economic patterns to keep our past and current clients in the loop if interest rates fall within their target.

• Lower Payments

Lowering a mortgage payment doesn’t always require a reduced rate. You can achieve a lower payment by lengthening the loan term, consolidating two or more mortgages into a single mortgage lien, or removing mortgage insurance (MI or PMI).

See if refinancing might make sense for you with the below calculator.

• Debt Consolidation

If there is a sufficient amount of equity, sometimes paying off the consumer debts by rolling them into your mortgage can significantly reduce overall monthly debt liabilities.

• Home Improvements

There are several home improvement refinance loan programs available for homeowners with or without much equity.