Time changes all things, which is why it is a good time to see if refinancing can benefit you! Some of the most common reasons for refinancing a mortgage are to obtain a lower interest rate, remove private mortgage insurance, or to change loan programs. Any of these changes could potentially help you save thousands of dollars throughout the life of your loan! In this market, we are currently experiencing some of the lowest rates we have seen in the past 12 months!
Another reason to refinance is to “cash-out” your previous loan, known as a Cash-Out Refinance. Borrowers may refinance their loan to draw cash from their home’s equity. A cash-out refinance will pay off your current mortgage as well as provide extra funds to use for different purposes. These are commonly used to help pay for home repairs, pay off other liabilities, or help with education expenses. The possibilities are endless!
Give one of our loan officers a call today at 603-643-1400 to see how a refinance could benefit you! We will walk you through every step of the process and find the best available loan program for you!