Getting Started > Why Refinance your Mortgage?
Refinancing

Refinancing a Home Mortgage: Strategic Benefits

1. Lowering Rates and Payments

Refinancing to reduce the mortgage rate and monthly payments on your primary mortgage.

2. Cash-Out Refinance

Obtaining additional cash by refinancing your primary mortgage.

3. Consolidating Mortgages

Refinancing to combine first and second mortgages (excluding home equity lines) for a lower rate and payment, or including home equity lines for additional cash.

4. Managing Home Equity Lines

Paying off the primary mortgage and home equity line, either closing the line or leaving it open for future use.

5. Reducing Mortgage Term

Refinancing from a longer-term mortgage (like 30 years) to a shorter term (like 15 years) to pay off the loan faster.

6. New Mortgage for Unencumbered Properties

Taking out a first mortgage on a property that currently has no liens to obtain cash.

7. Transitioning from Construction Loan

Replacing a construction mortgage with permanent financing.

These refinancing options cater to diverse financial goals, from debt consolidation to leveraging equity and adjusting loan terms.

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