Should I Refinance? Reasons and Excuses.

It’s happing again, another year has come and gone. With 2015 right around the corner, many homeowners are reevaluating their financial goals.

The question of refinancing is often visited this time of year. Refinances are down 31% compared to last year, despite rates being LOWER NOW!

Why should you consider refinancing?

1. To save money per month.

2. To save interest and money long term.

3. To payoff my mortgage sooner.

4.To consolidate two mortgages.

5. To consolidate high interest credit cards/ other debt.

6. To get cash out for home improvements, college, car, etc.

7. To eliminate Private Mortgage Insurance (or PMI)

Below are some excuses I hear from customers who haven’t refinanced their home:

1. The process is a headache. Too many people talk themselves out of refinancing because they think the process is too difficult or think they might not qualify. DO NOT DO THIS! Talk to a professional, my job is to tell you if you qualify. There are many products and programs available and chances are that I can find the right one for you. To qualify for a loan you simply have to show proof of your income and that it is likely to continue. To see a list of the items required for a loan click here.

2. Cost of refinancing. This is no longer a valid reason to avoid refinancing because I have the ability to do a zero cost loan- allowing you to instantly improve your mortgage even if you plan on moving in a year. Ask me about my zero cost loan options.

3. Underwater. (no equity in the home) Again, this is not a valid reason to avoid refinancing. There are programs that allow you to refinance MORE that what your home is worth.

My quotes are always free so you have nothing to loose. Give me 10 minuets of your time to see if I can improve your current mortgage and help you get one step closer to your 2015 goals.

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