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Why Should I Refinance?

  • Lower your monthly payments or the length of your loan
  • Take out cash to pay off high interest debt
  • Combine a first mortgage with a home equity loan
  • Use the cash to pay off student loans or other large expenses
  • Move into a fixed-rate mortgage to take advantage of historically low interest rates

See HUD.gov for more information on FHA loans.

Fixed Rate Loans Offer Stability

Fixed loans are best if you want a consistent payment over a very long period of time with no surprises. The peace of mind of a fixed-rate loan will offset the slightly higher payment over the long term. When rates are very low, refinance into a fixed-rate loan to lower your monthly payment or convert the uncertainty of an adjustable rate to a reliable fixed-rate.

And there’s better news. If you have a large Home Equity Loan or high interest credit cards that are not fixed, you have the option of refinancing them all into a fixed-rate loan which will save you thousands of dollars in the long run.

Adjustable Rate Mortgage May Be Just What You Need!

Most ARM products offer a low introductory rate that is fixed from 1 to 10 years after which it adjusts either annually or every six months for the life of the loan. Our ARM programs come with a lifetime cap on the rate, which means that your rate will never go above a certain level, even if rates skyrocket.

ARM loans are appropriate if:

  • You plan to stay in the home for less than 3 to 10 years.
  • Interest rates are high, as you will benefit when rates begin to fall.
  • You plan to take out a short-term cash/out loan.

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