Is now a good time to refinance my loan?
As interest rates drop, many homeowners find themselves considering if now is a good time to refinance their existing home loan. 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 the equity in your home to pay off debt, remodel, or go on a dream vacation.
Typical benefits of a refi 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
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. Request a free consultation or Apply today.
All loans subject to credit approval and satisfactory appraisal. 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.