Selecting a Refinancing Program

The number of refinance options available is truly breathtaking. We can guide you to locate the refinance program that will fit your needs the best. Contact us at 503-631-3311 to begin the process. In order to review your options, you can determine your goals for the refinance.

Lowering Your Payments

Are achieving lower mortgage payments and an improved rate your main reasons for refinancing? Then the best choice could be a low fixed-rate loan. An ARM (Adjustable Rate Mortgage) or a high fixed rate mortgage are loans that you may want to refinance. Even when rates get higher later, unlike with your ARM, when you get a fixed rate mortgage, you lock in the low rate for the term of your loan. If you plan to stay in your home for about five more years, a fixed rate mortgage may be an especially good option for you. But if you do plan to sell your home more quickly, you should consider an ARM with a low initial rate in order to achieve reduced payments.

Refinancing to Cash Out

Are you wanting to cash out some of your home equity with your refinance? Maybe you're dreaming of a cruise; you need to pay college tuition for your child; or you are planning some home improvements. So you'll want to find a loan higher than the remaining balance on your present mortgage.In this case, you'll want However, if your mortgage rate is high now and you have held it for quite a few years, you may be able to accomplish your goals without an increase in your mortgage payment.

Consolidating Your Debt

Do you hold other debt, perhaps with higher interest, that you need to consolidate? If you have enough home equity, paying off other debt with rates higher than your home loan (credit cards or home equity loans, for example) might be able to save you a lot of money each month.

Switching to a Shorter Term Loan

Do you need to build up equity quicker, and have your mortgage paid off sooner? If this is your wish, the refinance mortgage can change you to a loan program with a shorter term, for example: a 15 year loan. The payments will probably be more than they were with the longer term mortgage loan, but the pay-off is: that you will pay considerably less interest and can build up equity quicker. But, you could be able to switch without a higher monthly payment if your long term mortgage loan was closed a while ago, and the balance remaining is low enough. You could even pay less! To help you determine your options and the numerous benefits in refinancing, please call us at 503-631-3311. We would love to help you reach your goals!

Curious about refinancing your home? Give us a call at 503-631-3311.