home loan Tampa

December 22, 2016

Compelling reasons why go for home loan refinance Tampa FL?

When you go shopping for home loan refinance Tampa FL, you tend to be anxious on whether you are making the right decision or not. That is quite understandable considering that it involves some serious amount of money and thus, it just makes sense to exert extra effort to get the best deal available in the market today. To help you decide whether to go for refinancing or not, we have listed below some of its benefits (and you can call our office anytime if you want to know also about some of its limitations): Why refinancing might be a good option for you? Here are some compelling reasons why: It can lower your monthly repayment. It is considered as one of the best ways to help lower your mortgage payment and your interest rate. You can also enjoy fewer fees with it. However, you should: (1) have a good credit score and (2) your property value should exceed the refinance amount (along with some more other requirements) in order to qualify for home loan refinancing. (Again, don’t hesitate to talk to our experts at HomePlus Mortgage to learn more). It allows you to pay your mortgage off faster. Are you making more money now than what you were making when you bought your home? If so, you can consider home loan refinancing if you want to pay your mortgage off faster. (FYI: Paying more on your mortgage each month is not always allowed based on the loan terms and […]
April 26, 2017

When to consider home loan refinance, Tampa, FL

When should you consider home loan refinance, Tampa, FL? That’s the question. There are a number of factors that can serve as your guide in order to be as clear-cut as possible in your decision. Remember that whatever mortgage decision you make, it will have a big impact on your financial situation – and that impact could last long. That said, it makes sense to weigh all of the factors (and a mortgage professional can be very helpful on this) before you make your decision final. When to consider home loan refinance, Tampa, FL: When there’s a lower interest rate. A number of homeowners opt for refinancing when they find an opportunity to secure lower interest rates – because that could mean huge savings. The changing trends on mortgage interest rates gives that opportunity. At present, industry experts recommend refinancing only if one is able to secure 2% (or more, if possible) lower interest rate. However, it might be not worth it if you are just able to save a small amount, given that interest rate reduction. In other words, it is more compelling to go for refinancing at 2% lower interest rate when you have a 500k mortgage than when you have a 100k mortgage. With that, you need to figure out the number and do what the number tells you. If you desire to tap home equity. You can access the equity of your home to cover some major expenses. For instance, you can use it for your […]