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Mortgage Refinance Opportunities with Trust in Equity
If you revisit your mortgage every 3 years for mortgage refinance opportunities, you may be missing out on a chance to save money or pay off your mortgage faster. Trust in Equity offers Free Consultations for
The Mortgage Drawer Scenario - Do I Need to Revisit My Mortgage?
Do I Need to Revisit My Mortgage? The Mortgage in the Drawer dilemma. Have you ever considered trying to lower your monthly mortgage payments? This week we continue our video mini-series to help answer common questions on mortgages: purchases, and refinances. Refinance options can help lower monthly payments on your mortgage, or even aid in securing a better rate. This video is about The Mortgage in the Drawer Dilemma, watch it below and learn why you need to consider a refinance: *Below is a transcription of the video. The Mortgage in the Drawer Scenario: As we talk with people, we often find those who have a mortgage, maybe six to ten years old, and they haven't done anything with it since, ever. They have literally put the paperwork in a drawer, in a file, and have never touched it again. What are the Benefits of Pulling Out the Mortgage Papers? All About the Amortization Schedule If you never look at it, you're going to be paying the amortization schedule on the original principal of your loan. So, it depends on what your rate is - if you bought back when rates were 6-8% percent and maybe you borrowed $200,000 – you’re paying your mortgage off of that amortization schedule. How We Find Value in "Old" Mortgages. At Trust in Equity, we take a look at your mortgage and review it. Maybe the rates have now reached a point now where it makes sense for you to refinance, but more importantly
The Refinancing Option
Helpful Info for Homeowners Considering a Refinance Homeowners consider refinancing for a number of different reasons. Sometimes, the goal is to consolidate debts into the home loan to reduce overall interest in the long run. Other times, the goal is simply to lower monthly mortgage payments by taking advantage of a mortgage rate that is lower than that secured during the initial purchase of the home. Whatever your reasons for looking into refinancing a house, we are here to help you understand the scope of your refinance options. Types of Refinance Loans Conventional: This straightforward refinance option is a good starting point when exploring refinancing your home. The greater the equity you have in your home, the better a conventional refinance will work for you. HARP (Home Affordable Refinance Program): HARP is a government-backed refinance program designed to help make your payments more affordable so you can stay in the home. FHA Streamline: For those who already have an FHA home loan, this refinance option may be the way to go. Jumbo Refinance: If you owe more than about $400,000 on your existing property, you may qualify for a jumbo refinance. If you're ready to talk in more detail about refinancing your home, contact one of our refinance experts today and we will help you begin the process and support you in securing the best refinance rate available. We look forward to helping you make your mortgage work better for