Refinance Your
Mortgage
As market conditions evolve or your homeownership or financial goals change, refinancing may be the solution you’re looking for. Whether your goal is to refinance for a lower mortgage payment, shorten your mortgage term, lower your mortgage rate, or turn your home equity into cash you can use, there may be a range of options to consider. At Directors Mortgage, we offer refinancing solutions such as rate-and-term or cash-out designed to help you achieve your goals. Reach out to explore how refinancing could benefit you.
Refinancing & Home Equity
As home values increase, your home equity has also likely increased from when you bought it. If you’ve got equity in your home that you want to leverage to remodel your home, pay for other debt, or invest in other way – a cash-out refinance may be a solution to get you headed toward your goals. Connect with your Mortgage Specialist to find out how increased home equity may expand your refinancing options.
Refinance With Ease
Given that you’re already a homeowner, the refinance process will probably look pretty familiar to you. The three basic steps of applying, getting approval, and closing a mortgage still apply, though this time, you won’t have to worry about the real estate-related concerns such as putting down an offer on a house in competition with other buyers or inspections. And we’ll be with you every step of the way to make it a smooth process.
Refinance Calculator
With interest rates changing over time, refinancing may be an advantageous option for you. Use the mortgage refinance calculator below to get an idea of how your current mortgage may compare with a new mortgage to lower your rate, mortgage term, or payment, or turn your home equity into funds you can use. And for a customized loan estimate to meet your financial and homeownership goals, connect with your Mortgage Specialist.
Mortgage Refinance FAQs
Interest rates fluctuate daily and even throughout the day, and vary depending on a number of different personal-finance factors such as credit score and debt-to-income ratio. To get a clear idea of the current market combined with your particular scenario, connect with a Mortgage Specialist near you.
When it’s right for you. In other words, if interest rates are significantly lower than they were when you got your mortgage or your financial health has improved significantly, it may be a good time. Or, if you have a need to access more of your home’s equity, it may be a good time. If you’re thinking now may be the right time, it’s worth exploring your options.
As with many mortgage-related processes, there isn’t a set length of time to the refinancing process. It’s highly individual based on each client’s unique financial situation, the time it takes to provide documentation, and preferred timing or urgency.