Refinancing Guide
Modifying your current home loan can provide a pathway to meeting your financial goals. Count on us to guide you through it.
Refinance Your Current Loan
The loan experts at Advantage Mortgage are here to help you understand if refinancing is right for you.
When refinancing your mortgage, you’ll be paying off your current/existing mortgage and replacing it with a new mortgage, with typically lower interest rates/term periods/or monthly payments. If you have both a primary mortgage and a secondary mortgage, you could refinance both by paying them off and replacing them with one new/single mortgage.
Refinancing has costs, and isn’t right for everyone. At Advantage Mortgage we’re here to guide you and keep you informed so that you make sound financial decisions for you and your family.
Please note by refinancing your existing loan, your total finance charges may be higher over the life of the loan.
Benefits of Refinancing:
- Get a lower interest rate and make lower payments.
- Build equity more quickly.
- Get cash from the equity in your home.
- Convert from an Adjustable-Rate Mortgage (ARM) to a Fixed-Rate Mortgage.
- Convert to a renovation loan program to finance a remodel.
Refinance Loan Program Ideas
Interested in getting familiar with a few loan programs typically used for refinancing? Let’s take a look!
