Are you planning to refinance or need a home equity loan in Norfolk, Virginia?

Programs:

·         Refinance your first or first and second mortgages in to a single loan at a lower interest rate.

·         Take some cash out of your existing equity to pay off debt, purchase investments, or improve your home.

·         Lock in your adjustable rate mortgage to a low fixed rate home loan.

When to Refinance and Special Refinancing Programs for Norfolk, Virginia

The widely heard statement from years ago was to only refinance if you could lower your mortgage interest rate by at least two percentage points. This general rule of thumb was a simple way to analyze the refinance, allowing home owners to consider the real costs of refinancing. This rule no longer holds true in Norfolk, Virginia, because you can refinance your mortgage with no closing costs, or no points.

When a refinance costs you nothing, any savings in the rate is pure gravy. No-Closing Cost refinances are just one of the 2% rule breakers.

 

·         Lower your monthly home loan payment.

·         Switch from an Adjustable Rate Mortgage (ARM) to a fixed rate loan.

·         Switch from a fixed rate loan to an Adjustable Rate Mortgage (ARM).

·         Free up tax-deductible cash for purchases or home improvements.

·         Eliminate Mortgage Insurance (MI)