Five Reasons to Refinance Your Home in Boca Raton
Refinancing a home sounds like a great money-saver, and you can reduce your monthly mortgage payment by refinancing. There are several factors that can play into obtaining a smaller monthly payment. For one, your credit may be better now than it was when you originally obtained your mortgage. Also, loans with smaller interest rates may be available now whereas they were not before. Refinancing your home includes the process of applying for a loan again. That might sound challenging to some people, as applying for a loan can be a lot of confusing paperwork. Ace Mortgage Loan Corporation can help. We make the refinancing process as simple as possible. Here are five good reasons for refinancing your home:
Getting a Lower Mortgage Rate
One of the main reasons to refinance your home is to obtain a lower mortgage rate. Right now, the mortgage rate for a 30-year fixed rate is 4.63 percent. That figure may be less than the rate you were originally given when securing your mortgage. If that is the case, you should certainly consider refinancing with Ace Mortgage Loan Corporation.
Converting a Mortgage
Some homeowners may wish to refinance in order to convert an adjustable rate mortgage into a fixed rate loan. This is especially true for those who are worried about inflation. Converting to a fixed rate with Ace Mortgage Loan Corporation gives you a stable rate that won’t change from one month to the next. This can be especially useful if you have a fixed income.
Combining Mortgages
If you have two homes, such as a vacation house you visit during the summer, you might want to reconsider refinancing to turn two mortgages into one. While this won’t necessary save money, it will create less paperwork and make your bill–paying process simpler. The professionals at Ace Mortgage Loan Corporation can help you streamline your mortgage-paying process.
Refinancing to Invest
It is possible to cash out to buy other investment properties. This is a new refinancing trend that has become very popular over the past decade. The process involves homeowners refinancing their home with Ace Mortgage Loan Corporation in order to use that money to buy other properties. The second property could even be used as another source of income if you choose to rent out the property.
Refinance for Financial Help
Sometimes life throws us curveballs, like a long-term health issue, a divorce, or an unexpected event that could not be foreseen. A homeowner may want to refinance their mortgage with Ace Mortgage Loan Corporation to help pay for unforeseen circumstances. Parents will sometimes refinance their mortgage to help pay for getting their adult child out of a bind, or to help a family member in need.
Call Ace Today
There are many good reasons to consider refinancing your home. Whatever your reason is to refinance, Ace Mortgage is here to help. We can make the entire process simple and painless. Trying to navigate the refinancing process on your own can be quite stressful. We can help you secure a lower interest rate. To find out more information, or to begin the refinancing process in Boca Raton, we encourage you to call Ace Mortgage today at (954) 777-4774.