SHOULD YOU REFINANCE?

  

Listed below are a number of reasons homeowners look to refinance.  If you desire to achieve one of these financial goals, please do not hesitate to speak to a professional loan consultant at First American Funding, Inc.®

 

Lower My Monthly Payments - Refinancing can be a powerful tool in increasing your monthly cash flow.  There are a number of quotes on the “general rules” of refinancing, but the bottom line is how much will it cost you to refinance versus how much you save every month.  You may save hundreds of dollars every month if you elect to consolidate debt with the refinance!

 

Decrease the Term (number of years) of My Mortgage Payments - You can save thousands of dollars when reducing the term of your mortgage.  In a low interest rate environment you may even be able to reduce the term of you mortgage with almost the same monthly payments!

 

Major Purchases - Refinancing usually allows you with the ability of major  Purchases or Home Improvements without increasing your monthly cash flow, and in most cases even an additional tax benefit.  The question is should you refinance or take out a Home Equity Loan or Line of Credit.

 

Financial Security -  A Home Equity Line of Credit is not only a strong financial tool but will allow you a financial safety net.  The unused balance of the line will provide you with security against the future.

 

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