Mortgage refinance loans
Home Refinance Loans
Home About Us Contact Us
Apply now!
Equal Housing Lender
    

Refinance

Refinance your existing home loan with a no points, no fees loan. Or take cash out. Our lending partners offer all the options you need.

There are several factors that will help you determine if it's time to refinance:

  1. The main reason to refinance is to save you money. You may be able to get a better rate than you are currently paying and thereby reduce your monthly payments. Even a small reduction in your interest rate can add up to significant savings in the long run.
  2. Another reason to refinance your mortgage is to reduce the term of your mortgage. In many cases you can switch from a 30-year mortgage to a 15-year mortgage with a lower rate.
  3. A third reason to refinance your mortgage is to get cash back. Ideally this extra money would be put towards higher interest debts such as credit cards or other loans. When you refinance in this fashion, you can still have the same monthly payment.

Should you refinance? The decision to refinance should be based on weighing the savings of a lower monthly payment against the costs associated with refinancing. Sometimes you may be able to refinance without incurring any charges, but typically this will result in a slightly higher rate (which may still be below the rate you are currently paying). You also need to factor in the time you expect to stay in your current home. Generally speaking it pays to refinance your existing loan only if you plan to stay in your home for at least 3 to 5 years. Otherwise consider a second mortgage.

Homes in Columbus Ohio | H&R Block | Rolling Luggage | Julian McMahon | H&R Block