Mortgage Refinancing can help home owners in many different ways to save money, interest or use their equity to pay off other debts. The Home refinancing process is very similar to buying a house and beside some of the fees being different, most of the loans go through processing and underwriting with the lender. One of the most important factors to refinance your Mortgage is to know the client’s financial plans and goals in order to offer them an appropriate term and option. As much as rate and fee shopping is important, we do encourage our clients to look at the overall picture of their loan as far as future equity, term, the interest paid and the length of recouping the fees charged as well.
The Benefits of Mortgage Refinancing
Who Can Benefit?
Getting a lower interest rate and lower monthly payment.
Eliminating the private mortgage insurance by using the existing equity.
Changing the term of the current loan to a fixed, shorter or longer term.
Cashing out existing equity to pay off other debts or cash on hand for any special situation.
Mortgage refinance option can take place at any time during the term of your loan. You can also change the type of loan you have to a different qualifying loan to get a better term, rate, and overall option.
USA Mortgage Advantage
Offering a variety of mortgage refinance options.
Offering much lower fees and mortgage rate.
Fast underwriting and approval process.
Knowledgeable loan officers who can get you to the right loan.
Refinance Your Mortgage
USA Mortgage Columbia regional office has many locations in Missouri, Arkansas, Illinois, Kansas, and nearby areas. We have all the resources needed to make your dream a reality. Are you ready to move forward with the process of home refinancing? A local mortgage loan originator will guide you every step of the way. Apply now and find out if you qualify for a mortgage refinance.
FAQs: Mortgage Refinancing
The cost to refinance a mortgage has different variables such as credit score, home loan program, LTV, and many others.
You first want to set a financial goal and determine what you will be using the refinance for. Once you have that in mind you give us a call to start an application where get an idea of your goal. Next, we would determine the equity you have in the home which will base off how much you could qualify for to refinance.
The home refinancing process generally takes 30-45 day processing time depending on appraisals, inspections, and other services that may need to be performed.