Utilize the equity in your home to consolidate your debts and decrease your overall interest expense on these debts.

If your initial mortgage has an interest rate higher than what is offered today, you could benefit from refinancing into a lower interest rate. Your loan officer will review the interest savings and the costs associated with doing the refinance to determine if it is financially beneficial.ense on these debts.

Receive funds at closing to use on a variety of purposes, such as: putting in a pool, purchasing a large ticket item, funding a college education, and much more.

Utilize the equity in your home to consolidate your debts and decrease your overall interest expense on these debts.

There are a variety of mortgage terms that can be modified through a refinance based on your specific circumstances. Some common scenarios are:

• Decreasing the length of the term of the mortgage (for example: Refinance a 30 year into a 15 year to pay it off sooner)
• Fixing the interest rate if it is currently adjustable to eliminate market interest rate risk
• Lower the monthly payment, by extending the length of the mortgage. This will help free up your monthly cash flow. (for example: refinancing back into a 30 year mortgage for a retiree who needs a low consistent mortgage payment)
• Remove mortgage insurance through refinancing