Refinancing

Every homeowner in their lifetime looks at options to refinance at one or more points in their life. Refinancing is when you take an existing mortgage and you replace it for a new mortgage. There are many possible reasons why you might be trying to refinance like making the loan more affordable, lower the interest rate, change the loan repayment time frame or you are trying to get rid of private mortgage insurance(PMI). Other reasons may include getting cash out of your equity for debt consolidation, remodeling your property, or paying for tuition for a child or grandchild.

In most cases, it’s a similar process to purchasing your home. The bank will be looking at your overall credit, debts, and income to qualify you.

You may be able to save money when refinancing by looking through your old mortgage papers and finding the certified copy of the survey and your original title insurance policy. Once you obtain these items make sure the title company receives it on a timely basis so that they can use/update the information.

Call us for an appointment in order to review your case and see what programs you qualify for.