LOWER YOUR PAYMENT, ELIMINATE DEBT BY REFINANCING

Getting your household finances in order often means getting a handle on various pockets of debt. In some cases, there is no easier, all-inclusive way to do it than to refinance your home. What are the benefits of a home refinance? Many.

• Take advantage of lower interest rates to lower your monthly mortgage payment.
• Use the equity in your home to consolidate high-interest credit and other debt.
• Restructure the terms of your loan to pay your mortgage off sooner.
• Lengthen the terms of your mortgage to create more manageable monthly payments.
• Use an additional cash-out option to take care of other large expenses.

Bear in mind, refinancing your mortgage is often as complex a process as was obtaining your original mortgage. Much of the same paperwork must be completed again, and you will be required to present proof of employment and income. Deal777 will also guide you through the process of shopping for the best interest rate and lender. Just keep in mind that, provided your credit history is better now than it was when you originally purchased your property, the benefits of a refinance will likely outweigh the burden of applying and completing one.

As with anything, there are risks. In addition to enduring the mortgage process one more time, you should also expect to pay typical fees such as closing costs again. Other risks include signing on to a mortgage that is not in your best interests, paying closing costs that offset any financial benefit moving forward, or overpaying on interest when you extend your mortgage to a longer term.

The loan consultants at Deal777 can you navigate the nuances of the mortgage process to ensure that a refinance gets you a mortgage that is in your best interests.