Top 3 Reasons to Refinance Your Mortgage

Posted by:  Service First
2016-08-03 12:53:47

Can’t decide if refinancing is the right option for you?

With historically low interest rates, now is a great time to buy or refinance.

If you’re still on the fence about refinancing, consider these top three reasons:

Lower your rate. Refinancing to receive a lower rate may save you thousands over the life of your loan. Contact your lender to compare your current mortgage rate to the rates they’re currently offering.

Lower your term. Transitioning your 30-year loan into a 15-year loan may result in a more favorable interest rate. It will also help you pay less in interest over the life of your loan.

Refinance from an ARM to a fixed rate. Due to the historically low interest rates in the market today, switching your mortgage from an adjustable rate mortgage to a fixed-rate mortgage can help you lock in financial security before potential rate hikes in the future.

To explore your refinancing options, contact a Service First branch near you.

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