Whether you're looking to lower your monthly mortgage payment, get a lower interest rate, shorten your term or do a cash-out refinance, our mortgage experts can help you determine if a home refinance meets your financial goals and needs.
To lower your monthly mortgage payment, you may be able to do one or more of the following:
Reducing the term of your mortgage can raise your monlthy mortgage payment significantly. But in the long run a shorter term may be able to save you quite a bit on interest, allow you to lock a lower interest rate and own your home sooner!
Depending on the amount of equity in your home, you may be able to refinance your mortgage and take cash out. Many homeowners take cash out to pay off high-interest debt, or to fund a renovation. The cash is tax free, and you decide how to use it.
Reverse mortgages are available to qualified homeowners 62 and older. Depending on the amount of equity in your home, a reverse mortgage can pay off a current mortgage and convert available equity into cash, a line of credit or payments. Although a monthly mortgage payment is optional with a reverse mortgage, you must continue to maintain the property, pay property taxes, homeowners insurance and any HOA or condo dues. To learn more about reverse mortgages visit www.localreverse.com.
Mortgage rates are constantly changing. Our mortgage experts can recommend programs, terms and rates for your specfic needs. Discover your opitions and get started today by connecting with a Home Loan Expert or applying online with Group One Mortgage.
Discover your options and refinance with Group One Mortgage!