The mortgage staff of
Village Home Mortgage Can put together the most cost effective refinance
for you.
Home Owners that are looking to refinance
their homes have already been through the loan process at least once. We
understand that you are looking for a professional mortgage banker that will
put your interests first. We strive to provide our clients with as many
options as possible when refinancing their home whether they are getting cash
out or just lowering their interest rate. we ensure that any loan we do
presents a clear benefit to the homeowner so that we can help them improve
their situation.
PMI. If you were not able to make a
down payment when you purchased your home you likely have private mortgage
insurance (PMI) that you are paying monthly on your loan. In addition to
lowering your interest rate we may be able to remove the mortgage insurance
that you have been paying if you have built up equity. This alone can save
hundreds of dollars in mortgage insurance costs monthly.
Exchange an adjustable rate for fixed
rate financing. When you bought your home you may have been like the
millions of others that got an adjustable rate mortgage (ARM). We can show you
how to secure your monthly payments by refinancing into a fixed rate mortgage
that will never fluctuate on you. On top of the savings you will also have
peace of mind.
Shorten the Length of Your Mortgage
when Refinancing. Another advantage of home refinancing is that you can
shorten the term of your mortgage. Let's say, for example, that you originally
had a 30-year mortgage and have been paying it for eight years. Thanks to
mortgage refinancing, you can switch to a shorter term of either 10, 15 or 20
years. This can save you thousands of dollars of interest. Also, if the
refinance rate is lower, but you maintain the same monthly payment, you will
build up equity in your home more quickly, because more of your payment will
be going towards principal.
Should you get cash out or just do a rate & term
refinance?
|
Rate & Term
Refinance
 Remove
mortgage insurance if you have built equity in the home
Lower
your monthly mortgage payment
Get
a fixed rate mortgage that is secure
Get
out of balloon payments
|
Cash Out
Refinance
Pay
off credit cards, car payments, and other debts.
Take
a vacation with your family
Take
cash out for home improvement
Reduce
your total monthly obligations and save
|
|
