Refinance in Florida
When current mortgage rates are down, it is a good time to refinance your home. The average home in Florida is able to save more than 35 percent, by using a rate-and-term refinance. The meaning of that is for every $1000 you pay your Florida mortgage broker today, you will save $350 per month. That could add up to $42,000 saved over the next 10 years. Currently, there are an estimated 7.5 million home owners that are eligible for a refinance and are unaware of their eligibility. NSH Mortgage executes a refinance in Florida at the right time, allowing our clients to save the maximum amount of money and home equity on their loan.
Is It Your Time To Refinance In Florida?
Many people dream of owning a home, but sometimes when they finally get their hands on their dream it turns into a financial nightmare. This can be especially true for those whose financial situations change from the time that they got their original loans. However, it's possible to save a lot of money by getting a refinance in Florida. It is easy to do, but just like every other kind of home investment it's important that people carefully research their options. You need to choose the correct refinance for your unique situation and financial plan. Call NSH Mortgage today to speak to one of our experienced mortgage brokers for your next refinance in Florida.
How Refinancing Your Home Works
A refinance is a fairly simple endeavor on the surface. A homeowner finds a mortgage broker, and looks at that broker's current refinancing rates. The homeowner is looking to see if the current rates are lower than their mortgage rate. If the rates for the loan are lower, then a refinance is the best option for them. By choosing to refinance in Florida, you will save money over the long term, as well as have a better chance of paying your loan off sooner.
Once the refinancing loan has been accepted, the process is fairly straightforward. The new loan is used to pay off the old loan, and it shifts the burden of the loan to the new mortgage broker. From the perspective of the homeowner, nothing really changes except for the address that the loan payment is sent to every month and the savings. However, every home owner should take a long, careful look at refinancing before signing a contract. Make sure that easier payments and lower rates don't translate to a longer loan. This could result in more time and money loss. The only reason you would make that change, is if you needed lower payments to continue to afford your home.
Begin The Refinancing Process Today
NSH Mortgage is an experienced mortgage broker in Florida. We have specialized in refinancing homes for over a decade. If you are thinking about refinancing, or know nothing about it, we can help. We will show you current mortgage rates, while comparing your current rates. This will allow us to see the best financing decision for you. NSH Mortgage strives to provide all of our clients with the easiest and smoothest transaction in their mortgage process.
Questions to ask yourself before deciding to refinance your home
There are many factors to consider when deciding whether to refinance your home in Florida. The first question you should ask yourself is how old your current mortgage is. If you are well into your mortgage, it may not make sense to refinance as you could end up paying more in interest, even with lower interest rates. In addition, if you are planning on moving in less than three years, refinancing may not make sense due to the time and costs of the process.
The next question to consider is whether your current mortgage has a prepayment penalty. There is a possibility of being charged a fee for paying your mortgage off early if a penalty exists. Your credit score is an extremely important aspect to analyze as it determines the interest rate for a new mortgage. Based on your credit score, you may want to consider improving it if it is not satisfactory before refinancing as it alters the amount you will be paying in interest rates.
Why choose NSH Mortgage for refinancing in Florida
For the past 25 years, NSH has helped thousands of people refinance their homes. With an abundance of choices, the process may seem overwhelming. However, our team dedicates as much time and effort necessary in order to help you choose the best option for your particular needs. Furthermore, our superior loan options give us the ability to get you approved much faster than big banks! With 5-Star ratings, we ensure that our team will go above and beyond to make the process as stress free and efficient as possible.