Should I refinance my current loan?
Hilco Mortgage is ready to help you answer this question. Whether you need to reduce your house payment or "cash-out" against your investement, Hilco can get your results. You should consider refinancing if one of these situations applies to you:
- Have interest rates dropped considerably?
- For some borrowers as little as ½ an interest point can make an appreciable difference in their monthly payment. Many of the lenders we work with offer low-cost and even no-cost refinances for conventional, government, and sub-prime loans.
- Have you been working on your credit?
- Do you have a "B" paper, or "not-so-good-credit" loan currently? If you've improved your credit, it's possible you can be refinanced to a more conventional loan product with a lower interest rate. Hilco Mortgage can help evaluate your current mortgage and credit status to find you the best opportunities.
- Would you like to consolidate your debt?
- Borrowers sometimes take advantage of a refinance to pay-off credit card balances, installment loans, or other debts. With a new low interest rate mortgage you may be able to use your equity to help increase monthly cash flow or for tax purposes.
- Are you planning on remodeling your home?
- The money you need for new carpet, kitchen cabinets, or even an addition can be found under your own roof. If there is a difference between what your house is worth and what you owe, you might be able to draw it out for that dream kitchen you have planned!
