We continue our video series this week with Dan and Larry. This time, they are discussing refinances. Trust in Equity are mortgage brokers based in Avon, Ohio servicing Greater Cleveland. To learn about refinances, watch the video:
*below is a transcription of the video.
Most of the time with refinances, we're looking to take your existing mortgage. We look at your rate and term of the mortgage, see if it makes sense to maybe change the term and lower your monthly payment as a result. Or, we may look at the interest rates, see if there's a way to reset it that would make sense for you moving forward.
One of the other things that we can do with refinances is take cash out of the equity of your home. I've got a lot of people do that to consolidate debt or maybe do repairs on their home.
Let's say I've got a 30-year mortgage and I'm 10 years into payment. There might be an opportunity, based on interest rates and maybe the economy, that I could save money or pay my mortgage off faster. How often should we be looking at our mortgages?
We believe that one should always have their mortgage reviewed about every 3 years. Most people can stay in their overage about 7 to 10 years. We don't charge you anything to review it at Trust in Equity.
There are no consultation fees, there's no application fees and we can kind of find out what program works best for you. Maybe we research into a 20-year term maybe expand out the cash flow.
Pull that mortgage out of the drawer and see how much money you could save, or if you can pay off that mortgage faster.
Come see us about every 3 years at Trust in Equity in Avon, OH. We'd love to partner with you and take a look at your current mortgage without charging you a penny. We truly believe we can help you. Call at 1-440-716-8100 or Click Here to Contact Us Today!