Refinance
A refinance mortgage can be used to replace an existing mortgage or to take out a loan against a property you own “free & clear” of liens. The loan programs available for a refinance include: fixed rate, adjustable rate, conforming, FHA & VA. There are a few reason you would refinance:
- To take advantage of a better interest rate
- To change the term of your loan
- To consolidate other debt(s) into one loan
- To reduce or alter risk (e.g. changing from a variable-rate to a fixed-rate loan)
- To free up cash
