Benefits of a Refinance
Here are three ways a refinance can help
01
Lower Payments
Lowering your monthly mortgage payment is one of the top reasons homeowners opt for a refinance. This is accomplished with a lower interest rate, removing mortgage insurance, and/or improving the loan terms. By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
02
Improve Rates and Terms
- Refinancing to a 15 or 20-year loan could save you tens to hundreds of thousands of dollars in interest over the life of your mortgage. Not to mention the ability to pay off your home sooner.
- Converting an FHA loan to a Conventional loan could improve the loan terms and monthly mortgage payment.
- Combining a first and second mortgage could lower the overall monthly mortgage cost and interest payments.
03
Get Cash Out
Your Intercap loan officer can help you determine how much equity you have and how much you can take out through a cash-out refinance. You can use this money to make improvements on your home and/or to pay down debt.
Find out how much you could gain from a refinance.
“Not only did I save over $300 month on our re-fi our Intercap loan officer was professional, on top of it and a pleasure to work it!”
– Reviewed by Haley Del Andrae
