Refinance Loans

When an individual purchases a home, statistically this will be one the largest purchases in their lifetime. Respectively, the mortgage said individual will then be responsible to pay off may be one of the largest expenses built in to their monthly budget. Wouldn’t it be great if there was some way to leverage this large purchase to somehow access part of this money while simultaneously lowering your monthly mortgage payment? This is where a mortgage refinance comes into play and makes this a reality.

In short refinance loans consist of replacing an older loan with a new loan program that offers a better option for the borrower. Some options for opting to refinance include improving the rate on your mortgage, lowering your monthly payment, removing mortgage insurance, cash out refinancing for home improvements, shortening the term of the existing loan that you have, switching to a fixed rate mortgage, or finding a more suitable term that fits your needs better. Additionally, for home mortgages within the Unites States, there could be tax advantages available to you from refinancing, particularly if one does not pay Alternative Minimum Tax 

Since the terms and conditions of refinancing could tend to get a bit convoluted, it is very important to first determine with the help of an expert whether the amount you save on interest will balance the amount of fees payable during refinance. At Pacific Trust Group, we are your local expert on all refinance loan options throughout the State of California and can work with you to find the right option available to you.