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REFINANCE LOAN

Save Money When You Refinance With Major Mortgage

Meet Tristan and Maya

  • They’re Looking To Change Their Loan Term
  • They Want To Lower Their Interest Rate
  • Looking To Lower Their Monthly Payment
  • Considering Using The Equity In Their Home To Remodel
  • They’ve Owned Their Current Home For More Than 6 Months

Meet Tristan And Maya

  • They’re Looking To Change Their Loan Term
  • They Want To Lower Their Interest Rate
  • Looking To Lower Their Monthly Payment
  • Considering Using The Equity In Their Home To Remodel
  • They’ve Owned Their Current Home For More Than 6 Months
Refinance Loan | Major Mortgage

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What Is A Refinance Loan?

A Refinance pays off an existing loan early with funds obtained from the Refi loan. Refinancing a mortgage can be a helpful strategy for homeowners. When interest rates are lower than the rate at which a homeowner took out their original mortgage, it’s worth examining whether refinancing could help save on interest charges.

Several options:

  • Rate And Term Refi
  • Cash-Out Refi
  • Home Affordable Refi Program (HARP)
  • FHA Streamline Refi
  • VA IRRL

Refinance Loan Key Takeaways:

  • Decreasing The Loan Term Usually Results In A Lower Interest Rate But Higher Monthly Payment. You will Pay Off Your Mortgage Sooner This Way Because You Are Paying More Toward Principle Each Month.
  • You May Be Able To Lower Your Interest Rate, Payment, or both with a Refinance.
  • You Can Pull Cash Out Against The Equity Of Your Home If You Refinance For A Greater Amount Than What You Currently Owe On The Home. You Can Use This Money To Improve The Value Of The Home Or Pay Off Other Debt At A Lower Interest Rate
  • You Can Use A Refinance To To Convert An Adjustable-Rate Mortgage (ARM) To A Fixed-Rate Mortgage

A Refinance Loan might be right for you:

  • You Want To Lower Your Monthly Payments
  • You Want To Lower Your Interest Rate
  • You Want To Use The Equity In Your Home to Pay Down Other Debt Or Remodel Your Home
  • You Want To Change Your Loan Term
  • You Want To Convert an Adjustable-Rate Mortgage to a Fixed-Rate Mortgage
  • You Want To Get Rid Of Your Mortgage Insurance

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