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Refinance

Refinance

What can you do with your home equity?

Homeowners often refinance an existing mortgage to obtain a lower interest rate, but there's more to refinancing than just lowering your rate. 

Here are a few possible benefits of refinancing1

•    Switch to a fixed rate loan — Change from an adjustable rate mortgage (ARM) to a predictable fixed rate mortgage.
•    Reduce your loan's term — Shorten the term of your loan to pay off your loan more quickly.
•    Cash out — Use equity in your home to take cash out for home improvement projects.
•    Remove mortgage insurance — A new loan program may not require monthly mortgage insurance.

Interested in a cash out refinance2? You can access your home equity to: 

  • Finance home improvements to increase the value of your home
  • Help cover the cost of education
  • Consolidate or pay off other debt
  • Take a once in a lifetime vacation
  • Buy a second home or investment property

 

Ready to Refinance? ‚Äč   

Not ready yet or have additional questions? Talk to a local Mortgage Consultant.

 

1. By refinancing an existing loan, your total finance charges may be higher over the life of the loan.
2. Prosperity Home Mortgage, LLC is not a financial advisor and cannot and is not offering financial advice. Please consult a financial advisor or certified public accountant to determine what the tax implications of refinancing real estate may be.


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