The purpose of most refinance loans is to save money by minimizing your expense over the life of the loan or by minimizing your near-term monthly payment. If you are considering refinancing your home loan, the first steps are determining your short- and long-term goals and then evaluating the different types of refinance programs available to you.
Refinancing can:
- Lower your current interest rate
- Create cash flow
- Convert an adjustable rate mortgage (ARM) to a permanent fixed rate
- Convert a fixed interest rate into an ARM
- Turn equity into cash
- Convert to a shorter term
- Eliminate private mortgage insurance (PMI)
- Combine your first & second mortgages
American Mortgage Specialists programs can ensure good, fair rates and terms for your refinancing needs--often with no out-of-pocket costs. Complete our Quick App or call 1.866.385.5450 to speak to one of our loan analysts today!
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