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| Top 3 Reasons to Refinance a Mortgage 1. Lower your monthly payments Probably the most common reason for refinancing is to lower your monthly payments in order to ensure that each payment can be made. There are various ways to lower your payments. One way to do so would be to increase your loan term in order to pay less for an extended period of time. If you have an FRM and feel that you can't afford your current payments on the short term, but believe you will be able to deal with an increased rate later on, you might want to consider switching to an ARM because its rates will be fixed at a lower rate for a short period of time and then adjust later on when you know you can afford it. Conversely, if you have an ARM it would make sense to switch to an FRM with lower rates. 2. Decrease loan term Does refinancing mean I have to extend the term of my loan? The answer is no, and many people choose to refinance primarily for that reason of decreasing the loan term while slightly increasing monthly payments. In the long term this probably will save them a lot of money thanks to a lower interest rate. They will also finish paying off the loan a lot sooner. 3. Cash-out refinancing Many times there are other important debts people have to pay off or will need to pay off in the near future. Refinancing for more than you currently owe will allow you to receive a large amount of money to pay for these investments, whether it be for college, home improvement, or buying a car. Many times people can do so while getting a lower interest rate. As explained by the mortgage professor, this option should be carefully weighed against taking out a second mortgage. |
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| Our polite, professional and efficient staff has decades of experience providing home financing and home refinancing loan options to many thousands of satisfied customers with superior service second to none. We are a direct source for home mortgage loans, mortgage refinance, mortgage rates and home equity mortgage refinancing loan programs. We also specialize in options for mobile home refinancing, mobile home loans, mobile home financing and manufactured home loan lender products specifically for manufactured housing lending nationwide. Your request gains access to home purchase loans and home refinance loans at real savings. Once you've found or already own the perfect home, you need the perfect financing or refinancing. Let us find the best loan for you! 30 Year Fixed Rate Conventional, Adjustable, FHA, VA, USDA, Jumbo Loans, Chattel Mortgages |
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| Copyright ©1999-2012 Earth Works Trust Inc. All Rights Reserved Earth Works Trust Financial Services doesn't lend money directly to borrowers, though we are a direct source to approved national lenders and licensed independent mortgage professionals in your local area. This allows for the widest variety of housing loan options to meet your needs. We also work to make sure you have the resources you need when researching for a residential or manufactured home loan. We've developed tools to make it easier to find the right loan product. Submission of this loan request form gives permission to contact you concerning housing loan products, Privacy policy: We respect your privacy! Your information will be kept confidential and disclosed only as allowed by law. |
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