• Delorenzo Enterprises

Wondering if Refinancing Your Home Makes Sense?

Benefits of Refinancing

Whether you're refinancing your current mortgage to lower your rate, your term or to convert your equity into cash in order to perform home repairs, renovations, additions, pay for tuition or simply consolidate high interest debt, it's important to have loan options and the right guidance; I will be happy to answer any questions and help you through the home loan process, from application to closing.

Lowering Your Interest Rate:*

A lower interest rate may help you reduce your monthly principal and interest payment and save you money over the life of the loan.

Modifying the Term of Your Loan:*

Depending on what your specific goals are you may be interested in lowering the term of your mortgage which will allow you to pay less interest over the life of your loan, but keep in mind that your monthly principal and interest payment will be significantly higher on shorter terms.

Debt Consolidation:*

Consolidating multiple high interest debts into one loan can make life easier and may potentially save you money by paying down your interest. Having too many bills to manage each month takes a lot of time and effort; by refinancing you may be able to consolidate debt into a single monthly payment. One thing to also keep in mind is that there are costs involved with refinancing which are usually added to the mortgage balance and are spread out over time, do not ignore these costs, they should be calculated in order to make sure that it makes financial sense to refinance your mortgage in order to consolidate your debt.

Cash-Out Refinance:*

With a cash-out refinance you may be able to use the equity in your home in order to gain access to funds for home repairs, home renovations or college tuition. The purpose of this type of loan is to extract equity from your home in the form of cash to use for whatever you may need it for.

*All applications are subject to credit, property and income approval. This is not a commitment to lend. Speak to a licensed loan officer for more details about available loan products and full eligibility requirements. Loan products are subject to change and may not be available in all cities or states.

Tags: #Mortgage #Refinancing #RefinanceMortgage #Refinancing #Homeowners



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*All loans are subject to Credit, Underwriting and Appraisal Approval. Programs, Rates, Terms, and Conditions are subject to change without notice. This is not a commitment to lend. “NMBNOW” “Americasa” and “Americasa Home Loans” are registered DBAs of Nationwide Mortgage Bankers, Inc. (“NMB”) 68 S Service Rd Suite 400, Melville, NY 11747. NYS Department of Financial Services #LMB 109502 HUD Approved Title II Supervised Lender #3113200005. Nationwide Mortgage Bankers, Inc. is not acting on behalf of or at the direction of HUD/FHA or the Federal Government. NMB is in no way affiliated with “Nationwide Mutual Insurance Company”. NMB is Registered with the Nationwide Mortgage Licensing System NMLS #819382 DBA NMB HOME LOANS INC. in AL, AZ, FL, GA, IL, IA, KS, LA, MN, MT, OK, PA, SC, SD and TX. DBA NMB Home Loans in MA. New Jersey Residential Mortgage Lender License #819382