Want to Refinance or Remortgage your Home Loan … Call Now For Details 888-863-2849
Do you want to reduce your monthly expenses/overhead? Refinancing or Remortgaging you home can be a huge economic stimulus, this can lead to tens of thousands of dollars in savings resulting in reducing your monthly mortgage and monthly overhead. By understanding an amortization schedule and knowing your current economic status you will be are able to potentially save yourself a bundle. Refinancing applies to a large range of consumers, from individuals to families, moderate incomes to high worth individuals, young aspirational to approaching retirement. Call now to find out if you qualify for a home refinancing or remortgage program.
The Benefits of Refinancing Your House
If you are a homeowner and you have paid down some of the principal on your loan, then you might be able to refinance your home. Refinancing your home can save you tens of thousands of dollars in interest over the life of the loan. If you have paid down a significant portion of your principal, which is the actual loan itself, not the interest, then you owe less on your house and you have more equity than you did when you first got the loan. This means that in the eyes of the bank, you would require better loan terms; a lower interest rate, a longer term, etc.
Say that you refinance after five years of paying down your loan, you go from a ten or fifteen year loan at an interest rate of 12 percent. Now you have a 20 or 30 year loan at 5 percent fixed rate interest. Your monthly payment would go down significantly; this allows you to have more spending money now, or more working capital to earn yourself more money through investments. Having a fixed interest rate gives you peace of mind that your monthly payments will not change. You will also save yourself around forty or fifty thousand dollars that you end up paying in interest when it is all said and done.
There is no reason to not refinance. Whenever the bank gives you a loan, they are taking a risk, but once you have been paying down the loan, their risk is less and you have every right to take advantage of the fact that you are responsible and reliable.
From any smartphone or computer you can easily find a loan officer to help you with the details of your particular situation. They will give you all the advice you need for free and then it is up to you to give them the go ahead, but why not, it will only save you money.
