Refinance your home today!
At Home Refinance, Inc., we will take you through each step of your home loan process with ease. We are industry experts and can help you get the best loan for your situation. Take a look at our Loan Products and our Home Refinance Center to learn more. Fill out our 30 Seconds EZ Home Loan Request. or call us today at 877.210.8542 to get started.

We back our Mortgage services with a promise. Contact us today to learn more, or fill out our quick loan request online now!

EZ Online Loan Request >>

SEO © 2007 Home Refinance, Inc.
 

<< Back to Refinancing Resources

Home Refinancing Options

There are a wide variety of options for home refinancing, including:

Convenience
Refinancing to combine a first and second mortgage into one payment will save time and effort that occur when you have to write checks to multiple lenders. Consolidating a first and second mortgage opens a second lien position on your home if you decide to take out a home equity loan or line of credit in the future.

Lower payments
Perhaps you want to ease the burden of making payments on a 15-year mortgage loan by refinancing with a 30-year mortgage. Stretching out your loan term reduces your monthly cash outlay. If you refinance to lower your payments, however, make sure your new mortgage doesn't impose a prepayment penalty: With the windfall that comes from lowering your payments, you may occasionally have the resources to pay an extra amount toward your principal balance.

Consolidating other debts
You may want to refinance to pay off an auto loan or credit card debt. The interest on a mortgage or home equity loan is tax deductible in most cases, while the interest on consumer debt is not.

Making fixed payments
To help you plan with more certainty, you may want to lock in a fixed monthly payment that occurs when you refinance an adjustable-rate mortgage with a fixed-rate mortgage loan.

Eliminating mortgage insurance
If the loan to value on your original home loan was more than 80%, your lender likely required you to obtain private mortgage insurance. PMI protects the lender in case a borrower defaults on a loan, which has a greater probability of occurring for high-LTV loans. If you think your LTV is low enough and your current lend is reluctant to drop PMI, refinancing with a lender that won't charge PMI may make sense.