In technical terms, a mortgage refinance represents the restructuring of an existing loan’s terms to different parameters. However, in a realistic sense, a mortgage refinance can mean new possibilities and greater flexibility for homeowners who have an existing loan.
By refinancing your mortgage, you may enjoy lower monthly payments, which can free up funds for other investments or purchases. However, finding the best conditions for a mortgage refinance can be tricky, so it helps to partner with a lender that has experience gauging the market and connecting homeowners with more attractive loan terms.
Whether your original mortgage was a jumbo loan or real estate investor loan, you can turn to Guaranteed Financial for a mortgage refinance and take advantage of favorable terms and our wealth of home financing knowledge.
Reasons to refinance
Homeowners most often turn to a mortgage refinance as a way to save money on their monthly payments. This type of financial action can reduce interest rates, thereby successfully scaling back what borrowers pay each month and over the life of the loan.
That can provide the breathing room many families need to manage the rest of their monthly obligations, and even allow them to take on financial investments or projects that they may not have otherwise considered.
If you find that you need more cash on hand for other important expenses, you can draw from your home’s equity with a refinance. On the other hand, if you want to eliminate your monthly mortgage insurance, you can use a refinance to pay more money into your loan.
At Guaranteed Financial, we can provide all these options and more, giving you a number of opportunities to benefit from a mortgage refinance.
The options available
Though a traditional mortgage refinance – one in which your interest rates are lowered – is the most common, there are several different types of refinances that you might want to consider.
A cash-out refinance, for instance, allows you to convert a portion of your home’s equity into cash, which can provide money for emergency or discretionary spending. The opposite, a cash-in refinance, occurs when you pay more into their loan at the closing table, potentially increasing your equity enough to eliminate costly mortgage insurance payments.
And by combining a mortgage refinance with a home improvement loan, you may be able to secure the money you need to renovate your home without incurring a separate monthly payment. Investors and borrowers with foreign national loans are just some of the other consumers who may benefit from a mortgage refinance with Guaranteed Financial.
Why Guaranteed Financial?
Aside from its attractive terms – low interest rates, affordable down payments and the potential for reduced closing costs – a mortgage refinance from Guaranteed Financial appeals to homeowners for a variety of reasons.
Homeowners and investors appreciate our hands-on approach, which helps simplify a potentially complicated process. Our consultants sit down with borrowers and work on a one-to-one level to determine the best mortgage product and actions for each individual customer.
Our consultants are also sensitive to clients’ schedules and needs, working to offer flexible closing times and taking the lead on important tasks such as appraisal scheduling. With cutting-edge technology and practices at its fingertips, we are equipped to offer consumers a unique mortgage refinance experience.
It’s this type of commitment to customer service and quality lending products that has made Guaranteed Financial a leading provider of mortgage solutions, whether you are in the market for foreign national loans, jumbo loans, real estate investor loans or a mortgage refinance.
Learn More about the different options and reasons for refinancing.
Lowering Your Monthly Payments
