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Refinancing:
Refinancing your home means paying off your existing loan with the new
loan from Fairway Mortgage. There are many reasons why people choose to
refinance:
- Lower Interest Rates. When rates fall, the savings could be
substantial. The old saying that you need a 2% spread between your
current rate and the rate of a new loan is no longer true now that we
have no point loans. A 1% interest rate reduction on a $100,000 loan
saves you over $25,000 over the life of the loan. If you refinance
from a 30 year loan to a 15 year loan at the same interest rate, you
save over $92,000 over the next 15 years!!
- Consolidate Debt. By refinancing you may be able to pay off
high interest credit card bills or student loans and take advantage of
the tax deductions of a home loan. Why not maximize your tax
deductions, lower your monthly payments and have only one check to
write each month.
- Home Improvements. Tap into your home's equity to remodel or
add that extra room you have always wanted.
What ever your needs or financial situations may be, Fairway Mortgage
has the loan program for you. |
