REFINANCING YOUR MORTGAGE
If you have an interest rate above 4%, refinancing may be make financial sense to save you money especially while interest rates are still low. Your monthly mortgage payment could be lowered in a significant way depending on your credit worthiness. A call to Multiline Mortgage could save you money
Do you have a 30 year loan term? So you got a mortgage with a 30 year term and you’ve been making payments for seven years. In those seven years you’ve been making a dent in the principal amount but you’re paying the same mortgage payment. It might be wise to check out refinancing to a 15 year term to save money over the long haul. With historically low interest rates, you might even pay the same per month with a shorter loan term and pay off the mortgage sooner. Call Multiline Mortgage Services and we’ll run an Amortization Schedule with different loan terms to show you in black and white the money you could save over time.
Do you have an Adjustable Rate Mortgage? This is an optimal time to refinance to a fixed rate due to historically low interest rates. This is the time to get your mortgage on the right path to stability. Don’t let your mortgage put you in an upside down position. We can help.
Do you want to buy a car or make another large purchase? Refinancing your mortgage to take some of the equity out of your home may work the best in terms of the least money spent.
Why take out another loan and pay interest for the purpose of remodeling? The equity in your home is your money that could be used to make you more money. Remodeling will add value, or equity, to your house. Through your refinanced mortgage payment, you would pay back the money you borrowed against your equity. Depending on your credit score and credit worthiness, you may even get a better interest rate and pay little in closing costs. Calling Multiline Mortgage to check out the possibility will cost you nothing! All consultations are free.