Mortgage Refinancing in Glendale, AZ

Lower Your Payments with Mortgage Refinance Loans

A mortgage refinance loan is a great way to lower your monthly house payment. However, refinancing your home is also a cost-effective way to consolidate your outstanding debts or fund a major home improvement project. You can select from a variety of loan programs to accomplish your goals, including conventional refinance loans and the popular FHA streamline refinancing program. Our team of home loan experts can tell you all about your options and help you determine which one best helps you achieve your refinance goals.

Reasons for a Mortgage Refinance

YOU MAY ALREADY RECOGNIZE SOME OF THE BENEFITS OF REPLACING YOUR EXISTING HOME LOAN. OTHERS, HOWEVER, MAY NOT HAVE OCCURRED TO YOU

• LOWER YOUR INTEREST RATE

  You may have purchased your home during a period of high interest rates or settled for a higher rate because you had credit or income challenges at the time you bought your house. In both cases, a refi can lower your rate and your monthly payment — often substantially.

• GET RID OF PMI

  PMI (private mortgage insurance) provides financial protection for your lender, should you default on your home loan. Conventional loan programs require you to purchase this insurance coverage if your down payment is less than 20 percent of the home’s value. The cost of your PMI is typically added your monthly house payment, potentially increasing your payment by a few hundred dollars or more per month. Once you pay down your mortgage enough to have more than 20 percent equity, you can refinance your mortgage to get rid of this cost.

• CONSOLIDATE YOUR DEBTS

  Debt consolidation is one of the most common reasons that homeowners seek out refinance loans. Student loans, auto loans and credit card debt traditionally carry high rates of interest. A cash-out mortgage refinance allows you to pay off these obligations, lowering your interest rate and simplifying your monthly bill payment process. You can also use these funds for home improvements, upgrades and renovations.

• RESTRUCTURE YOUR HOME LOAN

  Sometimes home buyers use non-traditional financing vehicles to purchase a house. If you have owner financing or a short-term loan with an impending balloon payment, a refi can solve your problems. You can also use a single mortgage refinance loan to replace an existing first and second mortgage or to switch from an adjustable rate to a fixed rate home loan.

You can search the internet for mortgage refinance rates. However, the information you find will be generic, helpful only for the purposes of comparing rates over time. In fact, potential borrowers could be misled by these generalized rate quotes and discover much later that their actual refi interest rate is much higher than the one originally quoted.

A more accurate way of determining the current interest rate for a mortgage refi loan is to call us. Our mortgage brokers can provide a customized quote that will more accurately reflect the rate you can expect to pay, based on your credit score, income, debt ratios and the desired loan amount.

Choosing a Lender for Your Refinance Mortgage

When you’re ready to explore a refinance mortgage for your home, choose a refinance lender who knows how to get the job done for you.

Choose a mortgage company that works closely with its clients every step of the way, taking the stress and guesswork out of the application and loan approval process. We can answer your questions and help you determine whether refinancing your current loan is the right approach for you at this time.

For all types of home loans – including mortgage refinance – residents trust the home loan experts. With hundreds of years of combined industry experience, our team understands the importance of finding the right loan program to meet your needs. Contact us today to learn more, or to schedule a consultation to discuss your refinance mortgage needs.