Loan refinancing refers to the process of taking out a new loan to pay off one or more outstanding loans. Borrowers usually refinance in order to receive lower interest rates or to otherwise reduce their monthly payment amount. Rates are at an all time low, see if you qualify today!
A reduced interest rate will lower your monthly payments and could literally save you thousands of dollars!
You have the option of switching
You may be able to do a cash-out refinancing option to fund that home project you’ve been dreaming about!
Shortening your loan program will reduce the portion of your monthly payment that goes toward interest and will allow you to pay off your principle faster – and build equity faster.
If you currently have an adjustable-rate mortgage, now may be the perfect time to refinance to a fixed-rate loan. Locking into a fixed rate can protect you from rising interest rates to come, and a fixed payment is easier to plan and budget for.