Is it Time to Refinance?

Is it Time to Refinance?

As of the second quarter of 2025, approximately 47.4% of mortgaged residential properties in the U.S. are considered equity-rich, meaning their loan balances are less than half of their estimated market values.*

With nearly half of U.S. homeowners holding substantial equity, refinancing could be advantageous for those aiming to:

• Consolidate high-interest debts into a single, lower-rate mortgage.

• Finance significant expenses such as home renovations, vehicles, or recreational assets.

• Reduce monthly mortgage payments by securing a lower interest rate.

Pent up equity positions, even in these market conditions, can lead to significant cashflow improvements (debt consolidation), and/or funds available for significant household purchases (home improvements, boats, RV’s, etc).

What does refinancing do?

Refinancing could mean big savings depending on your financial situation. Refinancing a mortgage means paying off your existing home loan and replacing it with a new one. A cash-out refinance could give you access to equity in your home to pay off debt, remodel, or go on a dream vacation.

Typical benefits of a refinance include:

• Lower interest rate and lower monthly payment
• Possibly lower your monthly mortgage payment by decreasing or eliminating mortgage insurance
• Consolidate debt
• Use your home’s equity to generate additional cash
• Changing the loan terms for savings or to build equity faster
• Improve your credit and your monthly cash flow
• Take a mortgage payment holiday giving you time between your last payment and next!

How do I refinance?

No matter what your home financing needs are, you can depend on the team at GMFS Mortgage to assist you every step of the way! We make the mortgage process easy with friendly local service and online tools! See for yourself why so many of our customers and partners refer GMFS Mortgage to their family, friends and clients.

Contact us today to see if refinancing is right for you!

Note: By refinancing your existing loan, your total finance charges may be higher over the life of the loan. Always consult with a tax advisor concerning tax implications of your mortgage.

*source: www.attomdata.com/news/market-trends/home-sales-prices/q2-2025-home-equity-and-underwater-report