Purchasing vs. Refinancing

Many people enter into a mortgage, only to see interest rates drop significantly after only a few years. Some opt to refinance their mortgage at the first sign of a lower rate. However, those who refinance too many times can actually end up paying more in closing costs despite the lower interest rate. In most cases, refinancing means getting a lower rate, but some homeowners like to extend the number of years they will make payments in order to reduce monthly costs, while others take advantage of low rates on shorter term mortgages, say a 15 year loan.

Consolidating debt is also another reason to refinance, as those with both a mortgage and a home equity loan can combine the two into a single, fixed rate mortgage. In a perfect world, a homeowner only refinances their mortgage one time. Before refinancing your home, making sure you have all your ducks in a row; credit rating is very important. Those with good credit scores will have a much easier time securing their mortgage than those with poor credit. There are many factors which someone must consider before refinancing their home; such as short to medium range goals and of course long term goals. Ace Mortgage Loan Corporation can help you create and reach all your refinancing goals.

Whether you’re looking to refinance an existing mortgage, looking for your first home loan or thinking about buying an investment property or second home, Ace Mortgage Loan Company is the place to go. Experienced home loan experts can help guide you through all aspects of the purchasing or refinancing process. Working with a knowledgeable mortgage company is important because you want to get the best possible loan for your situation. Call the home loan professionals at Ace Mortgage Loan Corporation today for more information.

Are you ready to lock down your ideal mortgage?

Ace Mortgage Loan Corporation provides quality mortgage services to the people of Broward and Palm Beach Counties. Call us today at (954) 777-4774 to get started!

Contact Us