Welcome To Home Loans



We are experiencing many changes in our economy, and interest rates continue to be at low levels and with these changes the Federal Reserve expects great economic improvements.

How now, these changes benefit you in particular?

Compare current interest rates with the interest you have now. If you have a high interest rate then to refinance at a lower rate is the answer…even better if you get a fixed rate because you avoid high resets when dealing with adjustable rates, giving you more stability and improving your finances.

High payments are not the only reason to change an adjustable to a fixed rate, but is typically the main reason.  Also if you have a mortgage insurance, you will be able to eliminate it if you have appreciation in your home.

Here are some highlights to consider:

  • Do you have high mortgage payments?
  • High interest rate?
  • Are you paying for private mortgage insurance?
  • Do you have equity lines of credit with adjustable rates
  • Or perhaps credit cards with interest and high balances

Therefore, refinancing your home may be a good option to balance your finances:

If your first mortgage has a fixed rate, it is easy to compare it with current rates and relatively see if you’ll really experience a savings or not.

If current rates are lower than the rate you have today, then, you might consider refinancing.

It is important to consider that if your plans is the not to remain in the property long enough to experience the monthly savings including refinancing costs, then it is no sense do refinance.

However, if you desperately need to lower payments, refinancing could be a good choice even if you think moving relatively in a short-time.

If you have a variable interest mortgage and are experiencing a drastic impact on your budget that runs your economic limits, would probably be an excellent time to considering refinancing and compare estimates of financial institutions that offer these services.