Refinance
Is it time to get out of your current mortgage? Need to refinance into a lower rate or to get cash out of your home? Maybe your current home loan is keeping you from reaching your financial goals instead of helping you reach them. Or maybe you just want to redo your kitchen, add a new room or finish your basement. Whatever the reason to refinance your home loan, you’ve come to the right place to get the help you need. If it is time to refinance your st. louis mortgage, we can help.
Refinancing your home loan can save you money every month, but can be a difficult decision. After the fees, when will you really start saving money? How long do you have to be in your home after you refinance? How much does your rate need to change to make it worthwhile? When is the right to time to refinance?
There can be lots of reasons to refinance your mortgage such as getting a lower rate, consolidating debt, refinancing before a rate adjustment and changing loan programs. But, in the end, saving money is almost always your goal.
You can start with this calculation:
Total Cost of Refinance / Monthly Savings = Break Even Time
This is good place to start; however, it is just a rule of thumb and doesn’t always take all the factors into consideration.
You can fill out our on-line application to start your refinance or give us a call to get some of your questions answered and discuss your current home loan.
We will never pressure you to refinance. If refinancing your home loan doesn’t save you money or lower your rate or help you reach your goal, we never recommend it.
St. Louis Mortgage Place is a great resource you can use to educate yourself on buying your first home, getting your questions answered, running numbers through calculators or filling out a quick application to kick start your loan process. Go to the mortgage faq for some quick answers, there are multiple mortgage calculators you can use, you can email us with your questions or fill out an online mortgage application to start the process.