Which refinancing option is best
for you?
When it comes to refinancing sometimes the
choices are overwhelming. Points or no points? Fixed or
Adjustable? Cash out or Rate and Term? 3/1, 5/1, 7/1, 30 year, 15
year? How do you know? A knowledgeable LoanChatLive
mortgage professional will work with you to qualify you for the best
loan program to fit your needs. Here are some general considerations
to keep in mind.
Are you refinancing primarily to lower your rate
and monthly payments? Then your best option might be a low
fixed-rate loan. Maybe you have a fixed-rate mortgage now with a
higher rate, or maybe you have an ARM -- adjustable rate mortgage --
where the interest rate varies. Even if it's low now, unlike your
ARM, when you qualify for a fixed-rate mortgage you lock that low
rate in for the life of your loan. This is especially a good idea if
you don't think you'll be moving within the next five years or so.
On the other hand, if you do see yourself moving within the next few
years, an ARM with a low initial rate might be the best way to lower
your monthly payment.
Are you refinancing primarily to cash out some
home equity? Maybe you want to pay for home improvements, pay your
child's college tuition bill, take your dream vacation, whatever.
Then you'll want to qualify for a loan for more than the balance
remaining on your current mortgage. If you've had your current
mortgage for a number of years and/or have a mortgage whose interest
rate is higher, you may be able to do this without increasing your
monthly payment.
You want to cash out some equity to consolidate
other debt? Good idea! If you have the equity in your home to make
it work, paying off other debt with higher interest rates than the
interest rate on your mortgage -- for example, credit cards, home
equity loans, car loans, some student loans -- means you can save
possibly hundreds of dollars a month.
Do you want to build up home equity more quickly,
and pay off your mortgage sooner? One of our mortgage professionals
can show you how.
Our service eliminates the mystery of home equity
lines of credit, 2nd mortgages, and equity refinancing. We act as
your anonymous connection to a home equity professional in San Diego
acting as your advocate. If you are planning to refinance your
second mortgage add a home equity line of credit, get an online
equity loan, or research reverse equity line loans, our
participating San Diego mortgage brokers can help you make the right
decisions.
There are no forms to fill out. We never require you to give any
personal information to any mortgage loan officer. Reduce the hassle
of getting answers to your mortgage loan questions by connecting,
live, with one of our qualified mortgage professionals. Get solid
loan rates. Get your research done with real people who have real
experience and real answers. Ask our reverse mortgage professionals
about:
|
|
|
Best San Diego, California
Stated Income Mortgage Rates
|
Mortgage Rates By Region |
Best San Diego, California Jumbo Home Loan Rates |
|
|
|
| |
