You can calculate if this is the time to refinance! You might be able to lower your monthly mortgage payments or to reduce the number of years it will take to pay off your mortgage loan. You also might be able to save on your income taxes if you use the "cash out" from the closing to pay off credit card and other debt since mortgage interest is usually tax-deductible whereas the interest on your consumer debt is not deductible. Check with your tax person to verify if the interest is tax deductible. The following are some benefits to consider when refinancing:
- Will you lower your interest rate and reduce your mortgage payments?
- Do you want to convert your adjustable rate mortgage to a long term fixed-rate mortgage?
- Will you combine your first and second mortgages into one mortgage with a lower rate or payments?
- Do you need "cash out" for personal needs? Or do you want to eliminate your PMI insurance?
Some of the advantages that we can offer to you with your refinanced mortgage may include:
- Lower interest rates
- Our easy online or phone application
- Many types of mortgage loan programs
- The help and advice from one of our experienced loan officers
Are you ready and do you wish to refinance your existing mortgage? Apply online now and become preapproved for the loan that you want.
Click to find out if this is the time to refinance your existing mortgage and lower your mortgage payments or pay off your mortgage quicker or to take cash out or to combine your first and second mortgages.
Rochester Home Loan Mortgage Inc. - 7515 Wayzata Blvd. Ste #100 - Minneapolis, MN 55426 Office Phone: (952) 541-9173 ext135 Fax: (952) 541-9179 After Hours: (763) 551-9769
We lend in the following states: Minnesota, Wisconsin
