Home Loan Refinance Education

There's always a someday. Someday, I'll improve my less-than-perfect credit. Someday, I'll have all my loans paid off. Someday, I can use my home to my financial advantage. Sound familiar?

You took the first step in securing your financial future when you invested in your home. Now, you can put the equity of your home to work for you.

Don’t wait for someday…use your home to help you reach your financial goals!

Why Refinance Your Home Loan?

You may be able to refinance your home loan and get back in control of your finances.

• Improve the terms of your home loan.
• Use the equity you've built to consolidate other high-interest rate loans.

Refinancing is when you apply for a new home loan to pay off your current home loan. Even if you have less than perfect credit, your home may provide you with several financial advantages, including:

One Monthly Loan Payment

Simplify your life! You may be able to consolidate multiple bills into one loan. One loan means one bill, one due date to remember and one check to write.

Restructure Other Bills

Do you have existing loans or credit card balances with high interest rates? If so, you may want to consider combining those obligations into a new home loan. Even if you have less than perfect credit, this may be the option for you.

Convert To A Fixed-Rate Mortgage

With a fixed-rate mortgage, you can have the security of knowing that your monthly principal and interest payment will remain steady, regardless of the current market environment. This loan option is attractive to many homeowners because of its predictability.

Get Cash In Hand

One way to put more money in your pocket is to tap into the equity you've built in your home with a cash-out home loan refinance. If you have sufficient equity in your home, you can refinance the existing loan secured by your home and take the extra funds as cash. This can provide money for remodeling your home, making a large purchase, such as a car or boat, or taking the vacation of your dreams.

Refinance Home Loans From Wells Fargo Financial

When you refinance your home loan with Wells Fargo Financial, you can choose payment terms that will keep your monthly payments at a comfortable level. You can choose from a range of loan repayment periods to meet your needs. Best of all, the interest you pay on loans leveraging your home may be tax deductible.

Home Loan Education

Many say your home is the wisest investment you'll make. Historically, it's an asset you can count on during difficult times, and it's something you can pass on to your family.

Your home is a financial tool; you build equity as you pay your loan and as the value increases in favorable market conditions.

Unlock Your Home's Equity With Wells Fargo Financial

Refinancing your home loan can help you free up your budget by taking advantage of the equity you've built. For many homeowners, it's a great way to restructure high-interest bills and thereby reduce your current monthly payments.

You could free up extra money each month to spend however you’d like. Or, you may choose to get cash out to pay for your immediate financing needs. With home loans, the interest you pay may be tax deductible.

What Is A Mortgage Loan?

A Mortgage is a document that gives a lender an interest in real property. It provides the lender assurances that you’ll honor your promise to repay the money you’ve borrowed. Your promise to repay is found in the written instrument known as the Note. Together, a Mortgage and Note are often simply referred to as a mortgage loan.

Mortgage loans come in many different shapes and sizes, all with their own advantages and disadvantages. It is important to learn about all the mortgage loan options available, so you can select the one that’s right for you, your financial situation and your personal goals.

Wells Fargo Financial offers Fixed-Rate Mortgage Loans for individuals interested in refinancing.

Fixed-Rate Mortgage Loans

Fixed-rate mortgages offer predictable monthly principal and interest payments throughout the life of the loan and give protection from rising interest rates. They work well for those with a fixed or slowly-increasing income and have a lower tolerance for financial risk. Fixed-rate mortgages are generally well-suited for borrowers who plan to stay in their home for a longer period of time. Fixed-rate mortgages are often considered more conservative and can give you the security of knowing your monthly principal and interest payment will not change over the life of your loan.