What is Refinancing?

Refinancing your mortgage means getting a new loan to pay off your existing loan. Depending on your current financial or personal situation, there are many reasons one would desire a refinance. An Equity Smart Home Loan Expert will be happy to share how refinancing might be right for you.

Refinancing can...

1. Lower your Interest Rate

A lower rate means lower monthly mortgage payments, freeing up money to pay off debt, save, invest, or use as you wish.

2. Get a Shorter Term

A shorter loan term may mean a similar or slightly higher monthly payment, but you’ll pay off your loan faster, save on interest, and build equity more quickly, boosting your net worth.

3. Switch from an Adjustable to a Fixed Rate Loan

Switching from an ARM to a fixed-rate loan provides stable monthly payments, protecting you from increases and making long-term budgeting simpler.

4. Turn your Home's Equity into Cash

Cash-out refinancing lets you turn your home’s equity into cash with no restrictions on how to use it and no tax penalties. Use it to pay off debt, fund a vacation, or anything else you need.

Ready to Refi? Call Fred 714-583-6188

If you think you’re ready to refinance, an OZEAN REALTY EXPERT will match you to the perfect loan.

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