Let's face it, there are many reasons you might want to consider refinancing your conventional, FHA, VA, or USDA mortgage. Instead of writing out a big long article for you, let me just give you a list of reasons you might consider refinancing your mortgage.
- Removal or Lower Mortgage Insurance
- Lower Interest Rate
- Lower Term (Flex Terms are Available)
- Extend Term
- Lower Monthly Payment
- Cash Out for Home Improvements
- Cash Out for Debt Consolidation
- Cash Out for College Education
- Cash Out for Traveling the World
- Cash Out for Buying a New Car
- Cash Out for Investing in a New Business
- Cash Out for Medical Expenses
- Cash Out for Unexpected Expenses
- Cash Out for Investment Property
- Cash Out for Because You Can
You can probably come up with even more reasons. Basically, if you have a mortgage you can refinance it and it doesn't have to be with your original lender.
If you own your house free and clear, you can also do a first mortgage refinance.
If any other questions pop up in your mind, give us a call at the office at (815) 324-9760 and we'd be happy to talk different scenarios.