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
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.
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.
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
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.