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Are you Thinking of Refinancing your Mortgage Loan?

Feeling Right at Home with Kathy Lyon, Union Bank Mortgage Lender   NMLS 413332

Are you thinking of refinancing your mortgage loan?  Your home could be a source to help you manage your debt?  Everyone’s situation and financial goals change over time.  Whether you are interested in consolidating your debts or just refinancing your mortgage for a better rate and term, Union Bank can provide the information you need to help you reach your goals.  There are several good reasons to refinance your home.

Consolidate your debt.
If you have equity (value above the balance of your mortgage) in your home, you might consider refinancing your home and taking cash out to pay off other debts.  Many borrowers find that debt consolidation makes managing their monthly debt obligations easier by lowering their monthly bills.  

Pay off your mortgage sooner.
With low interest rates, many borrowers are discovering that they can refinance their mortgage loan into a shorter term and not only pay the loan off sooner, but save thousands of dollars in interest.  

Lower your monthly payment.
As life situations change our financial goals are often affected.  Refinancing your home into a longer term is a way to lower your monthly payment and sometimes help the borrower to maintain their quality lifestyle.  

Reduce your interest rate.
Lowering your interest rate is a good decision; however, you also must consider the fees relating to the refinance and the number of years that you will keep the mortgage.  With a lower interest rate, the cost of refinancing can be recovered quickly.  

Convert to a fixed rate.
If you have a variable rate mortgage, now is the time to convert to a fixed rate loan.  A fixed rate means that your loan is fixed for the full term of your loan.  This is really important when you consider your ability to pay back your loan and the assurance that your house payment will not change.

For more information regarding the right mortgage loan for you, please call us today at 870-460-6400.

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