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You’ve been questioning if refinancing your mortgage would benefit you, but you’re not sure how to decide if now is the time. Here are some particulars you’ll want to consider when deciding if refinancing your home mortgage is right for you.

How are today’s interest rates?

Your local mortgage broker can offfer mortage rates at historic lows, making the lower rate a benefit to all home owners.

Can I reduce my mortgage payments by refinancing my current mortgage?

For the majority of homeowners, the answer is Yes! Our professional loan officers will assess your current mortgage terms and determine if you will save money on your monthly payments, and the amount you can save.

I have a combo mortgage on my home , a first and 2nd mortgage. Can refinancing help me consolidate these debts into a new first mortgage?

Debt consolidation is an attractive reason to consider refinancing. Whether you want to consolidate car loans or first and second mortgages, your local mortgage professional can work with you to reduce your financial obligations and cut down your total monthly payments.

Is it possible to refinance my home loan and use the equity to pay for home renocations or college tuition for my sister?

Your local mortgage broker can assess your current mortgage and market conditions to allow you to take advantage of the equity you have amassed in your home. You can spend the extra cash from a refinanced mortgage in whatever way you decide from paying tuition to buying a car to improving your home.

Several years ago I took out an Adjustable Rate Mortgage on my home. In a few months my mortgage payments will balloon to the higher payment amount. Can refinancing with your local mortgage lender help me avoid this expensive situation?

The neighborhood loan officer will check out your present mortgage payments and let you know which mortgage programs will help you the most. For instance, you can get a new Fixed Rate mortgage with a lower payment prior to your Adjustable Rate Mortgage increasing.

My mortgage is 30 years fixed. Can I refinance my mortgage and pay off my home sooner?

If you got a mortgage on your home some time ago, your mortgage lender can give you options so you can decide if refinancing your home loan would allow you to pay off your loan more quickly.

This article is written with the support of Chicago Mortgage

Supported by Dallas Mortgage