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.
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