Refinancing your home may accomplish a number of financial goals:
Lowering your interest rate may save money on your monthly payment.
Reducing the term of your mortgage may save tens of thousands of dollars over the life of the loan while increasing slightly higher on monthly payments.
Refinancing an ARM or a balloon to a fixed rate may eliminate the uncertainty of shifts in interest rates.
At Cascade Financial & Co., we offer a variety of refinancing packages to suit the needs of our customers, and we welcome the opportunity to work with you to find the right mortgage. The right option for you will depend on a variety of factors pertaining to your specific situation - one of our mortgage professionals will help you choose the best loan package.
Considering the following factors can give you a head start in deciding which type of refinance option to choose:
1. How long you plan to remain in the house?
2. How long you have been paying on your current mortgage?
3. The current rate and term of your mortgage?
4. Whether you have a second mortgage or home equity line of credit?
5. How much equity you have in your home?
6. Whether it will be beneficial to consolidate other debts into your mortgage? (this can depend on the amount of equity that you currently have in your home)
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