Home Mortgage Refinances
Interest rates fluctuate every day, which is why so many homeowners explore the possibility of refinancing their home mortgages. Depending on when you took out your mortgage and your current financial situation, you could find that a mortgage refinance might give you more financial freedom and opportunity. Many consumers consider home mortgage refinances because they can compare loan programs, interest rates and determine the best way to maximize the benefits of being a homeowner. Find out today whether a refinance is a good option for you - fill out the informational questionnaire here at Refinancez.com to learn more.
First and second mortgages
Home mortgages today come in a variety of programs. Many homebuyers take out first and second mortgages to purchase their first homes. Over time, it may be wise to look into the possibilities of refinancing both of these loans into a single one. Be sure to let your prospective lenders know whether you have a second mortgage or home equity loan - that way, you can explore all of your refinancing options.
You also may want to explore the possibilities of refinancing and taking out an equity line of credit. Many homeowners use these lines to complete home improvements. Generally, the interest on these loans is tax-deductible, just like a mortgage. Be sure to handle equity loans responsibly, as you are literally borrowing away from the equity you've built in your home.
Compare and research
One of the benefits of finding home mortgage refinances online is that you can compare and research loan proposals from a variety of lenders. When you do this, you can verify that you're getting the best combination of monthly payment, interest rate and loan program. Depending on your situation, a 15-year fixed loan may be more advantageous than a 5/1 ARM. Be sure to consider all of your options and your comfort level with factors such as adjustable-rate mortgages and monthly payment amounts. Before you start the process, be sure you know your existing mortgage's balance, the balances on any second mortgages or lines of credit, your home's estimated value, and an estimate of how much you earn each month. Each of these will have an impact on the types of loans and rate programs made available to you.
How to get started
Getting the best home mortgage refinance takes time and comparison shopping. That's why so many consumers turn to Refinances.com for assistance. To get started, just fill out the informational form on this site. By providing basic info such as the amount you're interested in refinancing, your estimated home value, your ZIP code and your contact information, you will be personally matched with the lenders in your area that can pre-qualify you. From there, the entire process is in your control. You can decide which lenders (if any) to work with and when you'd like to refinance your mortgage. Be sure to review terms and conditions of refinance proposals and look over your estimated monthly payment, loan term, interest rate and whether there are any penalties for pre-payments. If anything looks confusing, ask your lender first.