Refinancing provides replacement of an existing debt obligation with a debt obligation under different terms for you. If the replacement of debt occurs under financial distress, refinancing might be referred to as debt restructuring.
A loan (debt) might be refinanced for various reasons:
- To take advantage of a better interest rate (a reduced monthly payment or a reduced term)
- To consolidate other debt(s) into one loan (a potentially longer/shorter term contingent on interest rate differential and fees)
- To reduce the monthly repayment amount (often for a longer term, contingent on interest rate differential and fees)
- To reduce or alter risk (e.g. switching from a variable-rate to a fixed-rate loan)
- To free up cash (often for a longer term, contingent on interest rate differential and fees.
You can refinance either with a first and/or second mortgage or line of credit. Our team of professionals will create the best financing solution that best serves your needs. We will evaluate your current situation and ensure that your financing objectives are met. We can help you with a variety of mortgage refinancing options so that you have a customized solution that fulfills your all requirements.
If you are interested in refinancing your mortgage or loan, simply call us or click on Free Quote to get in touch with us. We will work with you to create a solution that benefits you and optimizes the use of your equity.
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