Refinance Your Mortgage and Save Money
Reduce Monthly Payments
Payoff Mortgage Faster
Eliminate Mortgage Insurance
Cash Out Refinance
The reasons for taking a cash-out home refinance are diverse. You get access to additional funds obtained through your home equity. A cash-out mortgage refinance may involve a higher loan amount, a higher or lower interest rate, or a different term than your prior home loan in order to access that equity.
Contact Nathan Mortgage to learn more about mortgage refinance loans and for what loan amount you can be approved.
Lowering Your Interest Rate
Interest rates are subject to change. Historically, rates are low when looking back 30-40 years. Even lower rates are available through discount points.
Lower rates for the life of the loan translates to lower mortgage payments. A Nathan Mortgage home loan officer can advise on today’s rates (as well as annual percentage rate apr), discount points available, and when to refinance your mortgage to capture the most savings.
Eliminate Mortgage Insurance
Mortgage insurance protects the lender in case a borrower defaults on their loan. Insurance is required for home loans with a down payment of less than 20%, also known as PMI or private mortgage insurance. This is different from property insurance. Property insurance benefits the homeowner.
In a hot real estate market, homes appreciate quickly and provide access to equity needed to refinance and eliminate the existing mortgage insurance. This provides instant savings by reducing your monthly mortgage payments. Contact Nathan Mortgage to learn more about refinance loans.
Shorten the Term of The Loan
Reducing the life of the loan or the monthly payments schedule can occur while getting a mortgage refinance for a lower interest rate. Shorter-term home loans typically have lower interest rates. This adds up to significant interest savings.
Contact a Nathan Mortgage loan officer to learn more about mortgage refinance loans to shorten the life of the loan, reduce monthly principal and interest payments, and the loan process.
Convert to a Fixed Rate Loan
Mortgage refinancing can replace an adjustable rate mortgage ARM, with a fixed rate mortgage. An adjustable rate mortgage starts with an initial fixed rate period with a relatively low rate, subject to change at set fixed rate periods. The rate offered in the initial fixed rate period is intended to entice borrowers. The rate changes with market conditions, often likely to increase due to low introductory rate, leading to monthly payments that are higher. Replacing the adjustable rate mortgage with a fixed rate mortgage refinance often provides significant savings.
Contact Nathan Mortgage to learn more about refinance loans and loan options for adjustable rate home loans that have passed their initial fixed rate period.
Home Equity Line of Credit (HELOC)
A line of credit opened against your home’s equity. This is not mortgage refinancing of your existing home loan and is subject to credit approval. Like a credit card, it’s an account with a set credit limit. A home equity line of credit provides access to funds without paying the ultra-high annual percentage rate apr of a personal loan or personal credit card.
A home equity line of credit is often used for cash shortfalls, larger purchases, unexpected bills, college costs, or paying off credit cards. It’s helpful for the unexpected situations life throws. It is repaid via monthly payments. This does not affect your principal and interest in your existing home loan.
Consolidate Debt
Debt consolidation refers to combining all your debts into one low-interest rate debt so that you can save money on high-interest credit card balances. A refinanced mortgage provides an opportunity for homeowners who are underwater with high-interest rate credit lines to save significantly on monthly interest fees. Contact Nathan Mortgage to learn what home loan amount for which you can be approved.
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We cannot recommend Nathan's work enough - he takes the time to make his clients comfortable and educated in the mortgage process. He is always quick … More to respond and extremely professional. We worked with Nathan on the purchase of our first house, so we knew very little about the entire process. Nathan took the time, in multiple meetings, to walk us through step by step to understand not only the high-level steps but all the details, including terms and calculations, to make sure we could make an informed decision on what we could comfortably afford. We knew he was an invaluable resource in the first 15 minutes we worked with him and never regretted the choice. I have already recommended Nathan to friends and family who are very pleased with his work.
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My husband and I have used Nathan for two home refinances now, and both times have been more than thrilled with the results. Nathan is responsive, professional, … More and very savvy when it comes to getting you the best deal. Most companies deliver the bare minimum, but Nathan Mortgage cares about their customers and always strives to deliver the best. Nathan spent months helping us move around funds, pay down debt, shop the best deals, and working the system to get us the lowest interest payments possible. We’re now saving hundreds of dollars in monthly payments, got rid of our PMI, and are saving tens of thousands over the life of the loan. We will be life long customers, and simply cannot recommend Nathan enough to others.
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So happy we used Nathan! Some family members recommended him and we are glad they did. He went above and beyond to get us the best deal possible with our … More loan. Nathan was very knowledgeable and able to get us the best possible loan terms imaginable. The title company was even surprised with how great of a deal we got.Even though our home buying experience was filled with bumps and deals falling through for months on end, he was easy to get a hold of and made us his priority every time we needed him. Nathan was always our advocate and the #1 person on our side through this process. Highly recommend!
