lower your payment
Give yourself a raise. By refinancing your existing mortgage, you could wind up enjoying more money in your bank account every month by lowering your interest rate, extending your loan term, or maybe a combination of both. A lower mortgage payment not only feels good, but it makes your budget happy, too. Imagine having additional funds to cover your other bills and save up for those important goals. (Vacation, anyone?)
But the benefits don’t stop there. Refinancing can also be the prime time to make other adjustments to your current mortgage situation – like transitioning from an adjustable-rate loan to a fixed-rate loan, or if you have sufficient equity in your home, to pull out cash.
Consult with a Sierra Pacific Mortgage professional to find out if you qualify for a better rate.
Financial freedom is something we all strive for – but high-interest debts can often get in the way. Imagine tackling that debt head-on with a consolidation loan. You can go from juggling multiple bills, due dates, and fluctuating rates to managing one low, streamlined monthly payment – thanks to a secured loan using your home’s equity. Cue the sighs of relief.
Not only can you enjoy a lower monthly bill, but you might also benefit from tax-deductible interest* – a unique perk that credit cards simply don’t offer. Plus, you could pay off your debt faster, potentially improving your credit rating along the way, and get closer to meeting your financial goals. Connect with a Sierra Pacific Mortgage professional to get started.
*The interest on the portion of the credit extension greater than the fair market value of the dwelling is not tax deductible for federal income tax purposes. Consult a tax advisor for further information regarding the deductibility of interest and charges. See your tax advisor for information on the deductibility of interest for tax purposes.
Get Cash Out
Homeownership comes with lots of perks – and tapping into its equity to fulfill your dreams is high on the list.
In most cases, a cash-out refinance will offer you a more competitive interest rate, which means lower payments to achieve higher goals like college, home remodeling, or a new business venture. And when it comes to extra benefits, cash-out refinancing wins over credit cards and student loans with its tax-deductible* interest payments. A wise decision indeed.
Your first move? Talk to a Sierra Pacific Mortgage loan officer. Based on your unique financial situation and variables, we’ll help advise you on a tailored approach to meet your personal goals
*As a result of refinancing, your total finance charges may be higher over the life of the loan. The greater the equity, the better interest rate you can get on your refinance, which may help you lower your monthly payment. Depending on the amount of equity, private mortgage insurance (PMI) could be eliminated from your monthly cost. All borrowers subject to credit approval, underwriting approval and lender terms and conditions. Programs subject to change without notice. Some restrictions may apply. Not a commitment to lend.
Still have questions?
- We have loan programs that fit most financial situations.
- We know that only one thing really matters to you - being approved for your loan.
- Contact a member of our team today.