Has your life changed since
your first bought your home?
Is your money not stretching as far as it used to?
Do you need to consolidate your debts?
Do you want to go on that holiday that you haven’t had for
Do you want to pay of your mortgage sooner?
Do you want monetary freedom?
Why pay more on your mortgage than you need to?
If you’re your adjustable mortgage payments are starting to
affect your standard of living you could save thousands of
dollars in interest and take advantage of low long-term interest
rates by refinancing your home loan. With mortgage rates across
America at their lowest, the time is right to secure lower fixed
A recent report on mortgages in the United States revealed that
over half of lenders are paying too much on their mortgage or
have secured a loan that is not within their limitations.
Seek out the right mortgage refinance a considered the monthly
rate, the length of the loan and the closing costs to ensure
that you get the right refinance for you. Beware of dishonest
brokers and make sure that you do your homework and understand
the various types of loans available to you.
Adjustable rate mortgage – an initial interest loan rate is
fixed for a set period of time and then adjusts to the economic
index, meaning that it could go up or down. The initial fixed
rate is usually lower that a fixed rate loan.
A fixed rate mortgage secures an interest rate for a set period
of time, which means that you are aware that your monthly
payments will not change, however there is much less flexibility
that with an adjustable rate mortgage.
A balloon loan is has a fixed interest rates for a set amount of
year, usually around 8 years. However you need to be sure that
you will be able to repay the loan in full which means that you
will need to be have to be able to save long term and be ready
when the loan term expires.
Home equity loan – this option allows you to utilise your equity
which means that you can use the additional finds to renovate or
you this money to invest in other opportunities.
What ever loan suites your circumstances look into each option
carefully and find a broker that will work to get you the best
About the author:
Read more tips and guides to refinancing your
home loans and taking full advantage of your home equity
opportunities by Lindsay Kaplan at LoansPlanet.com. Get the
lowest rates now