You have many smart refinancing solutions with Paradigm Mortgage Services. The top five reasons to refinance:
Lower Your Mortgage Payments
Are you refinancing primarily to lower your rate and monthly payments?
In that case, getting a low, fixed-rate loan could be a wise choice for you.
Consolidate Your Debt
Do you want to take advantage of low mortgage rates and pay off high interest debt such as credit card, student loan, car loan? Now is the time to Refinance.
(if you have enough home equity.)
Cash-out Refinance
Is “cashing out” your main purpose for refinancing? Your house needs renovating;
your son has gone to college and needs tuition money; or you are planning a special vacation.
Take Advantage
of a Higher Credit Score
Did you buy a home with a credit score of 699 or below, has your credit score now reached 700 or above? Then refinancing now would be beneficial and save you exponential monthly income.
Shorten The Term
of Your Current Mortgage Loan
Are you dreaming of paying off your loan faster, while building up your home equity* more quickly?
Then, you need to find out about refinancing to a short-term mortgage.
Whatever your reasons for refinancing, now is the time, as rates are currently floating at their lowest levels.
*Home equity is the dollar-value difference between the balance you owe on your mortgage and the value of your property. When you refinance for an amount greater than what you owe on your home, you can receive the difference in a cash payment (this is called a cash-out refinancing). You might choose to do this, for example, if you need cash to make home improvements or pay for a child’s education.