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  • Mortgage Refinancing Benefits

    There are many significant benefits to mortgage refinancing, and we specialize in making sure these benefits are maximized for you. Whether you are looking to save on monthly payments, stabilize an adjustable rate mortgage, make changes to the term of your loan, eliminate PMI insurance, or simply take cash out for any expenses you may have, we will work with you to meet your goals and find the refinancing program that best suits your needs. Below are some of the more popular benefits of mortgage refinancing. Please feel free to call us at any time to answer your questions and help you decide the best route to take depending on your individual situation.

    Lower Your Monthly Payments

    With mortgage refinancing, there are many options available for you, the homeowner, to lower your monthly payments. Whether you want to lower your interest rate or extend the term of your current mortgage, our mortgage refinancing professionals can help you get the refinance you need so you can start saving thousands with your new loan!

    Switch from an ARM to a Fixed-Rate Loan

    Although ARMs (or Adjustable Rate Mortgages) are alluring for many home buyers due to their initial low interest rates, after a period of time these types of loans readjust and the borrower is at the mercy of the fluctuations in the market, which could equal drastic increases in monthly payments over time. Switching to a fixed-rate mortgage means less-risk for the borrower, and an overall more consistent and safer investment.

    Improve the conditions of your ARM

    Refinancing allows you to renegotiate the specific conditions of your current adjustable rate mortgage you want to change. One available option for homeowners looking to lower the risk of adjustable rate mortgages are payment caps, which reduce the amount of increase allowed with the fluctuation of interest rates. If you still want the initial benefits of an adjustable rate mortgage while protecting you from sudden leaps in interest, mortgage refinancing can help.

    Shorten the Length of your Loan

    With a mortgage refinance, you can renegotiate the term—or length—of your loan from a 30 year mortgage to a 15 or 10 year mortgage, which means money saved on interest payments and a faster path to owning your home outright.

    Cash-Out Refinancing

    If you've been living in your home for some time, chances are you can use the equity in your home to get a "cash-out" refinance. By borrowing a larger principal secured against the equity in your home, you can obtain cash that can be used to pay for any expenses. Use the extra money to pay off debt, credit cards, make home improvements, finance tuition and other large expenditures.