Refinance options and considerations
Re: Existing home mortgage refinancing in the Greater Nashville TN area
Deciding when to refinance your home mortgage or rental property loan can be confusing. Several factors should be considered before making your decision: current rates, pricing and the terms of your existing mortgage. A qualified loan officer should be able to assist you in this process. It is important to know that though many loan programs have changed there is still opportunity for most people to benefit from refinancing. Things to consider when researching a new mortgage:
- Government loans such as FHA loans and VA loans allow for higher loan to values and do not rely so much on credit scores as do the conforming conventional loans.
- Now is a great time to refinance if you have an adjustable rate mortgage. Converting it to a fixed rate will provide security as well as peace of mind going forward.
- Convert your 30 year loan to a 20 year term. Your payment may not rise and you will see great savings in the interest you will pay on the amount of the mortgage.
Why Refinance now?
Why you may wish to refinance your Tennessee mortgage in the near-term
Mortgage Rates are still at historic lows and most people can take advantage of this opportunity to benefit from refinancing.
If you are interested in any of the following:
- Changing the rate and/or term of your existing loan. This may save money both on a monthly cash flow basis as well as on the amount of interest you will pay over the life of the loan.
- Access cash/equity to consolidate debt and save money on a monthly basis. This can have a tremendous impact on the interest a person pays on their debt depending on how the debt is structured.
- Access cash for a major purchase such as home improvements or an automobile or possibly to finance education.
Now is the time to consider refinancing you current Tennessee mortgage loan.
Call Lee Barroll at his Brentwood office: 615-243-1301 or email firstname.lastname@example.org for more information. Lee is based in Brentwood, TN but can serve then entire state of Tennessee.