Refinance and Control Your Financial Life

 In Refinancing your Mortgage

As the number of houses listed for sale drops, most of our mortgage business is now refinance transactions, rather than the usual purchase transactions.  Interest rates are extremely low, and although the underwriting guidelines have tightened up quite a bit in the past month, many people still qualify for a refinance mortgage.  

Here’s what you need to know to make a good financial decision about whether to refinance or not.


Cash-out refinances are a wonderful financial tool, and when used correctly, getting one can change your financial life.  If you aren’t able to pay off your credit card debt every month, or if it’s going to take you years to pay off your high-interest debt, taking some of the equity you have in your house and using it to consolidate that high-interest debt is one of the smartest things you can do. 

If you qualify for a cash-out refinance (the minimum credit score that you need has been increased, but most people who contact us still qualify), taking some cash out of your home and paying off that debt could lower your total monthly payment by hundreds of dollars.  In uncertain times, lowering the total monthly payments that you owe could be the thing that sets you up for financial success in the future.  

We have lowered the monthly payments for countless people by refinancing their mortgages and giving them the cash to pay off their other debt.  Even if you don’t have high-interest debt dragging you down, you might be able to refinance into a lower rate (and not take any cash out) if you haven’t refinanced recently.  

The entire world is in a financial crisis unlike anything any of us have ever seen.  Most of us feel as if we have a lot less control of our lives than we did a few short months ago.  Now is the time to take back some of that control by using the equity you have in your house wisely.  We will show you how, and if refinancing is not in your best interest, we will tell you not to do it.  Almost all of our business is from past clients, and that’s only because we always steer our clients in the right direction.  Contact us today to see if you can put yourself in a better financial position in these very uncertain times.

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