Selecting a Refinancing Loan

When you are overwhelmed with so many options, it may seem like there are even more refinance programs than applicants! Contact us at 832-407-2668 and we can match you with the loan program that best fits you. In order to review your options, you can think about what you want to achieve with the refinance.

Lowering Your Payments

Are getting lower mortgage payments and a better rate your main reasons for refinancing? If so, getting a low, fixed-rate loan might be a good choice for you. Perhaps you are presently in a loan with a high, fixed interest rate, or a mortgage loan with which the rate of interest varies : an adjustable rate mortgage (ARM). Even as interest rates rise, a fixed-rate mortgage will stay at the same, low interest rate, unlike an ARM. This can be especially a good option if you aren't expecting a move within the next five years or so. On the other hand, if you can see yourself selling your home in the near future, an ARM mortgage with a low initial rate may be the ideal way to reduce your monthly payments.

Getting Out some Cash

Are you hoping to cash out some of your equity in your refinance? It could be you're dreaming of a cruise; you have to pay tuition for your college-bound child; or you are updating your kitchen. In this case, you want to get a loan for more than the remaining balance of your current mortgage loan.In this case, you'll You'll be looking for a loan for a bigger amount than the remaining balance on your existing mortgage loan in this case. However, if your loan interest rate is currently high and you have held it for quite a few years, you could be able to accomplish your goals without a rise in your mortgage payment.

Debt Consolidation

Do you want to pull out some of your equity to consolidate additional debt? Yes you can! If you have the home equity to make it work, paying off other debt with higher interest than the rate on your mortgage (like credit cards, home equity loans, or car loans) means you can possible save several hundred dollars per month.

Switching to a Shorter Term Loan

Are you hoping to fatten your home equity faster, and get your mortgage paid off more quickly? In that case, you need to look into refinancing to a short term mortgage - for example, a fifteen-year mortgage loan. Although your monthly payment amount will probably be increased, you can be paying less interest; so your equity amount will build up faster. However, if you've held your current 30 year mortgage loan for a number of years and the remaining balance is rather low, you might be able to do this without increasing your monthly mortgage payment — you might even be able to save! To help you figure out your options and the many benefits in refinancing, please call us at 832-407-2668. We will help you reach your goals!

Curious about refinancing? Give us a call at 832-407-2668.

Get a Refinance Quote

Looking to refinance your home? Fill out the following form to get a fast quote from us.

Contact Info
Property Information
Mortgage Information
By checking the box, you agree that 247 Mortgage Loan LLC may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.

247 Mortgage Loan LLC

Quality Services today Relationship for Life!

Bussiness hour: M-F 9:30AM to 6PM, Saturday by appointment only
13438 Bellaire Blvd Ste #1 Houston, TX 77083