There are 3 reasons that you should be considering to refinance a mortgage in Maryville. Of course, you have seen all the commercials about “refinance your mortgage now before the rates go up again” so you likely have a little background knowledge on how beneficial it can be to refinance. Saving money is likely the number one reason that homeowners refinance their mortgage. The savings can be tremendous. Actually, you could potentially save hundreds of dollars a month. However, that is not the only reason you should consider taking the steps to refinance a mortgage in Maryville.
When you refinance your home mortgage you are resetting the clock on the length of time you will be paying on your home, but you do not have to. The most common and the most beneficial mortgage term is fixed/30 year for people on a budget but it is not your only option.
Here are 3 reasons you should be considering refinancing/moving your mortgage:
- Better terms
- Better environment
- More control
Better terms for your situation could mean refinancing for a 30-year fixed rate loan but it can also mean looking at a shorter term like a 15-year. A trusted mortgage professional can help you to make an informed decision about the term of your loan and what is going to be most affordable to you. In many cases when you refinance you already have quite a few years paid into the mortgage and restarting the clock may not be something you want to do. A trusted lender will go over the ins and outs with you of shorter terms and help you to secure the loan that works best for your situation.
How helpful is your lender? If you are not happy with the lender that you are with, then there is no reason to stay with them. You can refinance with a lender that you are comfortable with. After all you and your mortgage lender will be together for quite a few years, it is important that you have a good relationship.
Refinancing can give you more control over the lending. Maybe the first time around your credit was not as good as it is today, maybe you just took the first loan you could get. You may be able to refinance and take more control of the situation now. A Community Bank is here to help you refinance your loan with honest, thoughtful advice and great mortgage options! Call today!