When considering refinancing your home, it is important to determine what goals you have for your short-term and long-term finances. When you refinance, you pay off your current mortgage loan with a new mortgage loan that has rates and terms that should better suit your overall financial needs.

Let’s meet soon to discuss your objectives for the coming years. We can look at where interest rates are now and what closing costs would be on a refinance, and then I can put together a plan that is right for you.

There are many ways that refinancing your home mortgage loan could benefit you:

• Reduce your interest rate  – If your home is currently financed at a higher-than-market rate, you may be able to reduce your interest rate and overall interest costs by financing at a lower rate. Over time, this could save you a great deal of money!


• Extend terms to lower monthly payment  – You may be able to extend the repayment time of your loan, which will also lower the monthly payment. If you are looking to improve your cash flow, this may be a good option for you. Just keep in mind that you will be making payments on your home for a longer period of time.


• Build equity faster  – You may also be able to shorten the term of your mortgage, which could reduce your interest rate and/or overall interest expense. By moving to a 15-year fixed rate, you might be able to pay off your home sooner without increasing your monthly payment by much.


• Change from variable to fixed rate  – You may be able to reduce your monthly payment by changing from a variable-rate to fixed-rate loan. This may help free you from the potentially expensive interest rate/payment fluctuations that can occur in a volatile real estate market by locking in a low, fixed interest rate.

I would love to meet with you to assess your financial goals and see if refinancing your home is right for you. Call me today to set up an appointment and we will work together on the best plan for you.