03 Jan Should You Refinance Your Mortgage?
Do you think you could be saving on your monthly mortgage payments? Meet with us at Fairway Fort Lauderdale to determine if now is a good time for you to refinance your mortgage. One of the greatest benefits of refinancing is lower interest expense and — as a result —lower monthly payments.
By refinancing your mortgage, you will pay off the current loan with a new loan featuring rates and terms that will better serve your financial interests. Much like the mortgage process, when we refinance your home, we will require a new home appraisal to determine the home’s current value. We will also verify your employment, look at your household income and debts, and ensure you are qualified for the new loan.
Here are a few questions to ask yourself to determine if you are a good candidate for a refinance:
- Have I refinanced in the past eight months?
- Do I have an adjustable-rate mortgage?
- Do I have plans to move within the next five years?
- Do I have big financial goals — such as paying down debt or buying a second home — that could be easily obtained by refinancing?
- Would I like a lower monthly house payment?
At Fairway Fort Lauderdale, we want to make your home financing experience fantastic. Interested in moving to Fort Lauderdale or buying a new house? We are here to help you! Call us to set up a time when we can review your finances and goals to determine the best home loan program for your needs.
Schedule an appointment today!