Stacks of coins that are different heights, depicting different lengths of traditional mortgages available through GMFS Mortgage in Baton Rouge

Is now a good time to refinance?

Is it time?

According to the Mortgage Bankers Association, 44.9% of American households have slightly greater than 50% in available equity in their homes at the end of Q1 2022.

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

Taking advantage of the untapped equity in your home could include:

  • Make home renovations and updates,
  • Build a pool,
  • Pay off debts (lower your monthly bills).

If you’re wondering if now is the right time for a refinance or cash out refinance, contact our award-winning team today!

Get Started with GMFS Mortgage

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: https://mortgageorb.com/attom-nearly-45-percent-of-mortgaged-properties-were-equity-rich-in-q1-2022