Refinance

The Refinancing Process
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Refinance Your Home

With the assistance of your Real Estate Agent and a knowledgeable Loan officer, refinancing your mortgage should be efficient and pleasant.

Why Refinance?

A mortgage refinance can be beneficial in a variety of ways that may not be obvious to an average homeowner. 

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Debt Consolidation

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

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Rate Reduction Refinance

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.

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Cash-Out Equity Refinance

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.

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Debt Consolidation

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

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Change in Terms Refinance

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

Get a Free Consultation

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Come on by!

Weekdays

8 am – 5 pm

Weekends

By Appointment

Contact

Phone

904-333-0390

Mail

info@firstdownmortgage.com

Address

3227 Atlantic Blvd
Jacksonville, FL 32207