If your current interest rate is higher than what is currently available in the market, it is probably a good idea to see how much you could save by refinancing. There are no-cost and low-cost options that could save you money with little to no investment.
Adjustable rate mortgage (ARM) loans are a great way to ease into your payments, especially if you are a first time buyer or if you need lower payments initially. Eventually, if you decide you will stay in the home longer, you may want to consider refinancing that into a long term fixed rate loan. Doing so will give you peace of mind, knowing that your rate and payment will not change for a set period of time.
Take advantage of low rates to reduce the term of your loan. Shorter terms mean lower rates. Which means more money in your pocket to invest into your property.
Leveraging your equity is one of the smartest ways you can make your money work for you. Use the cash to pay off higher interest, non tax-deductible credit cards, student loans, or medical bills. By consolidating your debts, you can enjoy the benefit of having only one payment each month, and in most cases your overall monthly outflow decreases.
What better way to use your hard earned equity than to invest it back with repairs or home improvements? Whether you would like to fix your leaky roof or update your kitchen, you can tap into your equity and have a tax deductible way to tackle your projects.
With home prices and interest rates at the lowest they’ve been in years, if you’ve been thinking about buying a vacation home or an investment property, now may be a great time to take action.
You can count on us to find a great deal for you. Mortgage Biz of Florida brings a multitude of residential and commercial mortgage refinance options to the table. Most importantly, we will help you find a mortgage loan that meets your financial needs.
You can begin the application process today, save your progress, and continue at a later time. Also, chat with our licensed mortgage brokers while you work on the mortgage application.