Refinancing Your Home

There are a number of instances when it makes good business sense to refinance. Some of these reasons would include:

• Taking advantage of lower interest rates to reduce existing monthly mortgage payments.
• Reducing the term of the loan to build equity at a faster rate, such as converting from a 30-year loan to a 15-or 20-year term.
• Eliminating mortgage insurance if the value of your home has increased.
• Paying off an existing home equity loan.
• Changing your loan type from an ARM (Adjustable Rate Mortgage) to a fixed rate loan.
• Financing major remodeling or improvements that increase the value of the home.
• Freeing up equity to eliminate high interest rate debts or invest in high yield investments.

Interest rates have been extremely volatile for the past year. Perhaps you considered refinancing to reduce your interest rate, but then missed the rate "window" you were looking for. Register with our Rate Watchers program to be notified if your target rate becomes available.

For more information about refinancing with First Integrity, you can also visit Pre-Approval For A Mortgage Loan.