When interest rates are low, changing the term on your mortgage could potentially lead to considerable savings. By refinancing your mortgage, you could lower your monthly payment and free up funds for saving, investing or other expenses. Ryan Harding, Mortgage Banker at Security Home Mortgage, serves residents in the Lehi, UT area who are interested in refinancing.
Is Refinancing Right for You?
There are several reasons to refinance your mortgage:
Getting a lower interest rate than your current mortgage
Switching from an Adjustable-Rate Mortgage (ARM) to a Fixed-Rate Mortgage, or vice versa
Switching to a longer-term to lower your monthly payment
Switching to a shorter-term to pay your loan off sooner
Extracting cash from your home’s equity with a cash-out refinance
If any of the criteria above describes you, use our easy Rate Quote tool and check to see if refinancing is right for you. This will allow you to see different rates along with closing costs to give you a better estimate. You can also fill out our short application or call one of our professional loan consultants to see what rate you qualify for.
In addition, our refinance calculator will compare your current mortgage to a refinance. It will calculate your monthly payment, net-interest savings and your break-even point.
If you’re in Lehi, UT and are interested in a refinance, contact us today.