When to Refinance

You’ve heard it all before. You can save a lot of money by lowering your monthly mortgage payments if you refinance now! Yet others will caution you not to refinance because the payment of new closing costs can outweigh the benefits of a new mortgage. So what the right answer? It depends!

Homeowners choose to refinance for a wide variety of reasons including:

• Obtain a lower interest rate
• Build equity faster
• Change loan type
• Take advantage of an improved credit rating
• Draw on equity already built in the home

Each financial situation is unique as is each borrower. By sitting down with a Mortgage Consultant, you can discuss your personal financial goals and determine if refinancing is a viable option for you.

If you have already decided that you are ready to start the refinancing process, you can easily fill out our online application. Don’t have an Alera Financial Loan Officer yet? We can assign you one at the time of application or you can call us today at 1-877-ALERA-88.