Refinancing your mortgage doesn't have to be a complicated process. Let the experts at Atlas Crown Mortgage explain your options and help you select the refinancing option that's best for you.
Thinking About Refinancing Your Home Loan?
There are many factors that can lead you to consider refinancing including changes:
- in interest rates
- in your personal financial situation
- to the terms of your existing loan
- in your investment portfolio
However, a significant concern when considering refinancing your mortgage is the prospect of adding years back onto your payment obligations. While you may be able to reduce your monthly repayment amount, if you add years to your loan, you may end up paying more in interest overall. Atlas Crown Mortgage has the professional expertise and cutting-edge technology to find the right refinancing option for your circumstances. We'll talk to you about finding a loan product that suits your current and long-term financial goals.
Things to Think About When Refinancing
Refinancing a mortgage means taking out a new loan to pay off the existing mortgage. This is a smart tactic that can help you achieve various financial goals, including:
- Paying off your mortgage more quickly
- Consolidating debt to lower monthly payments
- Taking advantage of lower mortgage rates
- Getting better terms on your home loan
While these are all good reasons to refinance, you'll need to keep in mind that most refinancing options will reset your loan to a 30-year repayment schedule. If you've been making repayments for years, this can feel like a real setback. An exceptional mortgage broker, like Atlas Crown Mortgage, will review all your options for refinancing in light of your financial situation, and then match you with the best product to achieve your financial goals.
Options for Refinancing Without Adding Years to Your Loan
There are a couple of options available when looking to refinance your loan without adding on years. A mortgage professional at Atlas Crown Mortgage can help you decide which of these options is best for you. Here's a brief overview:
- Choose a shorter term: a refinancing option that offers a shorter term, such as a 15 or 20-year repayment schedule. You save on interest rates and pay your mortgage off sooner.
- Refinancing with early repayment flexibility: refinance with a traditional 30-year home loan without prepayment penalties. Most variable rate loans offer repayment flexibility. Simply add a set amount to your scheduled monthly payments, being sure this is applied to the principle of the loan, to pay off the loan early.
Get Advice from the Experts at Atlas Crown Mortgage
We know the mortgage market and have access to the products available from 75 different lenders. Whether you are looking to refinance the mortgage on your first home, refinance a jumbo loan, or are looking for refinancing options for an investment portfolio, we have the technology, expertise, and know-how to help you refinance without extending the years onto your loan.
Our team brings over 25 years of experience in the ever-changing mortgage industry. We know the refinancing process inside and out. We streamline the process, limiting paperwork. This makes the entire experience much less overwhelming.
When refinancing, work with experts with a reputation for quality customer care and detailed knowledge. Atlas Crown Mortgage has the technology and expertise you need to make the best refinancing decision.
Schedule a Free Consultation
Meet with our team. We'll enter your financial data into our cutting edge system. Then, we'll explain your refinancing options and help you choose the best package for your circumstances and goals.
Call or email today and schedule a free consultation!