Title: When is the Best Time to Refinance
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2 Introduction
- If you find a better mortgage rate than your
existing rate then refinancing can help you
obtain a lower rate. However, before you apply
for a refinance, it is important to understand
the basics of refinancing and the best time to
apply for a refinance. - This presentation explains the know-how
of Refinancing.
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3- Why You Should Refinance?
- To get a lower interest rate.
- To reduce the term of their mortgage.
- To convert from an adjustable-rate mortgage
(ARM). - To a fixed-rate mortgage.
- To tap a homes equity in order to finance a
large purchase or to consolidate debt.
4- Refinance to Secure a Lower Interest Rate
- This is one of the big reasons to refinance.
- You can shorten the interest rate on your
existing loan. - This will help you to
- o Save money
- o Improve the rate at which you build equity in
your home - o Reduce the size of your monthly payment
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5- Refinance to Shorten the Loans Term
- Gives you the opportunity to refinance an
existing loan for another loan. - Refinance without much change in the monthly
payment and shorter term. - You can close your loan faster.
6- Refinance to Consolidate Debt
- Homeowners refinance to consolidate their debt.
- Its a smart decision to replace high-interest
debt with a low-interest mortgage. - You should consider this step only if you can
resist the temptation to spend once the
refinancing relieves you from debt.
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7- Refinancing can be a great financial decision if
it reduces your mortgage payment, shortens the
term of your loan, or helps you consolidate your
debts more quickly. - For more details visit https//www.drewmortgage.
com/best-time-to-refinance-home-loans/
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8DREW MORTGAGE BRANCH OFFICES
Drew Mortgage Associates 196 Boston Turnpike
Road Shrewsbury, MA 01545 Phone
508-753-1656 Website https//www.drewmortgage.com
/
Peabody Mortgage Lenders 1 Mt Pleasant
Drive Peabody, MA 01960 Phone (978) 750-1080
Boston Mortgage Lenders 232 Commercial St Boston,
MA 02109 Phone (617) 523-3060
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