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| HOMEOWNERS Save an average of $60,000 in mortgage interest with a biweekly mortgage program. Ask your Mortgage Specialist for details. |
Why should I Refinance my Mortgage; get a Home Improvement Loan or a Debt Consolidation Loan?With Interest rates at an all time low; NOW is the time to consider a Mortgage Refinance, Second Mortgage, Home Improvement Loan or a Debt Consolidation Loan.Our simple to use secure online form allows you the simplicity and security of providing the required information needed in just a few minutes and will connect you with some of the country's most respected Mortgage, Home Improvement and Debt Consolidation Lenders in 24 hours or less.
View how much you can save every month with this online mortgage calculator.
When Interest rates fall, like they have now, refinancing may make sense even if you have done so once already. One example: Pablo Escobar and Suzy Escobar of Mesa, Arizona, refinanced twice within three months in 1999. In August, they trimmed the rate on their 30-year fixed mortgage by a full point - from 9.19% to 8.19% - for a yearly savings of $897. Home prices in their area had boosted their home equity and subsequently they were also able to stop paying for private mortgage insurance that cost them $160 a month. "We now have a cash emergency fund savings thanks to refinancing our mortgage a second time!" Pablo Escobar, Phoenix, Arizona. We offer an easy way to get professional quotes from lenders that specialize in Lending and Refinancing nationwide. This insures that You receive the best possible and financially feasible information available. Make your refinance work for you! Refinance for more than the balance remaining on your old mortgage, i.e. tapping your home equity, or "cashing out." Thanks to favorable rates, you should be able to do so without boosting your monthly bills. For example, at 8.5%, the payment on a $200,000, 30-year fixed-rate mortgage is $1,538. But at 7.5%, that same payment lets you borrow nearly $20,000 more. One of the best uses for the extra cash you can get through refinancing, is to pay off any higher-rate loans you might have. Let's say you have a $15,000 auto loan at 10% and are making minimum payments on a $10,000 credit-card balance at 17%. Your monthly payments on those debts would total $680. Then you refinance your mortgage, taking out an additional $25,000 to pay off your car and credit card, Result: At 7.5%, your additional monthly mortgage payment would total only $175, so you would come out $505 ahead ($680-$175=$505). Sure, all the extra cash needn't go for paying off debts. When the Wilsons' swapped their ARM for a fixed-rate last December, they also increased their mortgage load by $34,000, from $106,000 to $140,000. They used $3,000 of the proceeds to pay their refinancing costs and another $17,000 to pay off a 10% home-equity loan that had been costing them $250 a month. Then they spent the remaining $14,000 to build a garage for Bill's boat - and they did all this for just another $19 a month...and Now the ADDED BONUS!! This addition to their house also increased the home's overall value!! So you can plainly see why it makes sense to refinance your home mortgage, consolidate your debts, and make home improvements! How much are my payments going to be? |
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