Miami Refinance

apply-now-todayMiami and greater Miami area is the fastest growing metropolis in the country and with property values on the bounce again, it might be a good time to refinance your Miami mortgage and solidify your financial base to gain advantage of rising property prices.

Refinancing a mortgage entails paying off older mortgage with the new one. The process remains the same and the even the application fees stay the same. For effective refinancing you must take be able to secure the following benefits of refinancing. First Nationwide Lending has laid out few necessary benefits that every borrower looking to do a Miami refinance must seek out before they take the necessary plunge.

Tapping Equity and Consolidating Debt
While the previously mentioned reasons to refinance are all financially sound, mortgage refinancing can be a slippery slope to never-ending debt. It’s important to keep this in mind when considering refinancing for the purpose of tapping into home equity or consolidating debt.

Shortening the Loan’s Term
when interest rates fall, homeowners often have the opportunity to refinance an existing loan for another loan that, without much change in the monthly payment, has a shorter term.

Securing a Lower Interest Rate
One of the best reasons to refinance is to lower the interest rate on your existing loan. The best practice is to assess the reduced interest. It is always considered a good investment if you are able to shave off at least 2% of your interest payments.

Converting Between Adjustable-Rate and Fixed-Rate Mortgages
While ARMs start out offering lower rates as opposed to fixed-rate mortgages, periodic amendments often produce rate hikes that are often higher than the available fixed rate. In the advent of such polarity converting to a fixed rate mortgage is your best bet. It reduces interest rates and eliminates the exposure interest rate hikes.

Refinancing can be a tricky proposition but with the help of nationwide lending you can find out what may be the best plan of action with regards to you existing mortgage. For consultation and guidance regarding refinancing please contact First Nationwide Lending at (877) 442-4023.

First Nationwide Lending offers a variety of Miami mortgage loans, including, but not limited to: purchase mortgages, refinance loans, FHA home loans, USDA mortgages, jumbo mortgage loans, HARP 2.0 mortgages, VA loans, and reverse mortgages.

 

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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