Clearly the most common reason for refinancing is to reduce your present interest rate, thereby allowing you to save on monthly expenses. At the same time, however, there are several other reasons why refinancing may be worth considering.
Lower Your PaymentWe can all use additional cash from time to time and lowering your mortgage payment can help immensely in this regard. Whether you want to lower your monthly payment, eliminate private mortgage insurance or consolidate first and second mortgages into one low-rate mortgage, we can find the ideal product for you.
Use Your Home Equity to Borrow MoreWhile interest rates are still low, this may be the perfect time to borrow money against the equity accrued in your home. Home equity debt may be useful to consolidate debts or to pay for college tuition, long-overdue home improvements or a much-needed vacation.
Reduce Potential RiskLike many other people, you may have used an adjustable-rate mortgage when you initially purchased or refinanced your home to help keep payments low. However, it may now be time to consider refinancing your existing adjustable rate with a new adjustable-rate program or fixed-rate mortgage. Doing so could greatly reduce—or even eliminate—your exposure to the adverse effects of rising interest rates. Speak to one of our representatives to determine which option is best for you.
Less Than Perfect CreditWe can all make mistakes that adversely affect our credit. Mortgage Master's experienced consultants can help you consolidate existing debt, reduce overall payments and ultimately restore your good credit. Contact us now—and we'll find the program that's right for you.