Why consider refinancing?

Lowering your interest rate

The interest rate on your mortgage is tied directly to how much you pay on your mortgage each month – lower rates usually mean lower payments.  You may be able to get a lower rate because of changes in market conditions or because your credit score has improved.  A lower interest rate also may allow you to build equity in your home more quickly.

For example, if you compare the monthly payments (for principal and interest) on a 30-year fixed-rate loan of $200,000 at 5.5% and 6/0%.

A monthly payment @ 6% is $1,199
Monthly payment @ 5.5 % is $1,136
This is a difference of $63
But over a year’s time, the difference adds up to $756
Over 10 years, you will have saved $7,560

At the end of the day, why pay more when you don’t need to?

  • Consolidation
  • Debt consolidation
  • Rate & Term Refinance
  • Home Equity Line of Credit

Cash out can be used for:

  • Home Improvements
  • Medical Expenses
  • Vacation
  • Consolidation of higher interest debt
  • College Tuition

Need to see what you can qualify for?  The analysis is free and no pressure is involved.  All it takes is a simple contact to get your answers to make an informed decision.

Phone:  (918) 269-3621 or (918) 495-7373