Mansfield Mortgage is your local expert on mortgage refinance in Vermont. Whether the home is your primary or an investment or second home, we can help you with these loans and refinance mortgage rates. Contact Mansfield Mortgage to learn more and apply for a mortgage refinance loan!
Getting divorced and need to remove a co-borrower? A refinance could help you achieve this goal. Do you want a better rate, shorter term or have a desire to “cash out”? We can help you.
Have interest rates fallen? Or do you expect them to go up? Has your credit score improved enough so that you might be eligible for a lower-rate mortgage? Would you like to switch into a different type of mortgage?
The answers to these questions will influence your decision to refinance your mortgage. But before deciding, you need to understand all that refinancing involves. Your home may be your most valuable financial asset, so you want to be careful when choosing a lender or broker and specific mortgage terms. Remember that, along with the potential benefits to refinancing, there are also costs.
On July 21, 2011, the Consumer Financial Protection Bureau took over rule-writing authority for consumer protection laws related to mortgages, credit cards, bank accounts and other consumer financial products. For information on recent regulatory changes, as well as additional information about shopping for and using consumer financial products, please visit the CFPB’s website.
When you refinance, you pay off your existing mortgage and create a new one. You may even decide to combine both a primary mortgage and a second mortgage into a new loan. Refinancing may remind you of what you went through in obtaining your original mortgage, since you may encounter many of the same procedures-and the same types of costs-the second time around.
