One of the most significant decisions homeowners can make is whether to refinance their mortgage. While it can offer several benefits, it's not a one-size-fits-all solution and Marc Coons, the Paso Robles home refinancing expert can help homeowners make informed decisions.
PASO ROBLES, Calif., Oct. 19, 2023 /PRNewswire-PRWeb/ -- One of the most significant decisions homeowners can make is whether to refinance their mortgage. While it can offer several benefits, it's not a one-size-fits-all solution and Marc Coons, the Paso Robles home refinancing expert can help homeowners make informed decisions.
Refinancing involves replacing an existing mortgage with a new one, typically with more favorable terms. When market conditions are favorable, refinancing can be a smart move for possibly lowering payments, a lower interest rate, or using the home's equity.
The pros of mortgage refinancing include:
- Lower monthly payments and interest rates: One of the most compelling reasons to refinance is to secure a lower interest rate. Lower interest rates mean less money paid in interest over the life of the loan. This can save homeowners tens of thousands of dollars in the long run, especially for those with large mortgages or high-interest rates.
Regardless of how tempting a lower interest rate and lower payments might seem, there can be hidden risks. Working with the Paso Robles home refinancing expert helps avoid the downsides of refinancing a mortgage, which include:
- Upfront costs: Refinancing comes with closing costs, which can include application fees, appraisal fees, and title insurance. These costs can add up, so it's essential to calculate the breakeven point to determine if refinancing makes financial sense.
A home is an asset and an investment in the future. There are times when tapping into the value of the home and refinancing could be a smart move:
- Lower interest rate: If current market rates are significantly lower than your existing mortgage rate, refinancing could be a smart move. Also, if your credit score has improved since purchasing the home, you may qualify for a better interest rate.
Regardless of why you want to refinance your home, Marc is going to work for you to make the process as easy as possible and get you the best loan for your future. With access to multiple lenders, Marc has the ability to quickly identify lenders that are interested in meeting your home refinancing requirements.
Recognizing that each customer has unique needs, Marc and his team of professional loan consultants find the right lender for home refinancing. Backed by Certainty Home Lending, Marc and his team ensure a smooth loan process.
Marc Coons
806 9th St, Suite 2A
Paso Robles, CA 93446
(805) 712-8040
Media Contact
Scott Brennan, Access Publishing, (805) 226-9890, scott@accesspublishing.com
SOURCE Marc Coons
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