8 Great Reasons to Refinance Your Mortgage.
Should you refinance your current mortgage? With interest rates near historic lows, refinancing is on the minds of many homeowners. Here are eight reasons to refinance with Direct Finance Corp.
Lower Monthly Mortgage PaymentsA new mortgage at a lower rate can save you hundreds of dollars every month.
Shorter Loan Term
If you have a 30-year mortgage you can save thousands of dollars in interest costs by reducing the term (the number of years) and paying it off sooner
Elimination of PMI (Private Mortgage Insurance)
By boosting your equity above 20% of the home value you can generally eliminate PMI
Convert Adjustable Rate Mortgage to Fixed Rate MortgageUncertain interest rate payments can be fixed at today’s lower rates to give you more confidence going forward.
Access Home Equity
If you have a paid up mortgage but need cash, a new mortgage can help you access into the equity in your home
Refinancing and rolling in the outstanding balance(s) of high interest rate credit cards, installment loans, and other unsecured debts could save you thousands of dollars each year.
Get Cash to Purchase a Second Home or Vacation Home
Refinancing and taking out cash on your primary home could give you the down payment for an investor, second home, or vacation property.
Rates Won’t Stay Low Forever
Today’s low rates are not guaranteed to stay at the current level, so refinancing now could be your safest route
Want to know more about reverse mortgages, traditional mortgages or refinacing?
Call us today at 877-499-7283. Or simply complete our easy-to-use online contact form to see for yourself how Direct Finance Corp. can guide you through the Reverse Mortgage process, find the best financing for your new home purchase, or save you money by refinancing your current mortgage loan.