Benefits of Refinancing

I was speaking with a friend of mine this morning regarding refinancing and he asked a handful of great questions that not all homeowners know the answers to. Luckily, McCormick Mortgage is glad to answer any and all mortgage financing related questions. If you currently own a home, now is a fantastic time to refinance.

Why Refinance?

There are multiple reasons to look into whether or not refinancing is a smart move. Here are four categories that generalize “reasons to refi.”

1) Reduce your monthly payment

2) Consolidate outstanding debt such as a first and second mortgage.

3) Tap into built up equity in your home. (Help pay for college or home projects.)

4) Change mortgage programs or terms. (Go from a 30 year to a 25, 20 or even a 15 year amortization schedule.)

To determine if refinancing is a smart move, give us a call and we will go over the details with you. (No cost or obligation) With rates at their current historic lows, right now is a great time to look into the benefits of refinancing.