Want to pocket the difference between your old mortgage and your
refinanced mortgage? An example would be: Let's say your original mortgage
was $100,000. You used it to buy a $110,000 home. In four years, you've
paid down the mortgage by $5,000 ($95,000 remaining), and the home has
increased in value by 24 percent (+$26,400) and is now worth $136,400. You
get a refinanced mortgage of $122,760. With the retirement of what's left
of the original mortgage, you suddenly have $27,760 in your pocket
Want to take advantage of a lower rate? Want to change the index with
which your adjustable is tied? Want to manage your money differently? A
mortgage that might have been a perfect fit years ago, now doesn't fit so
well. A refinanced mortgage can be a great way to get re-fitted. And
you'll look marvelous.
refinance. Got a mortgage recently? Things change already? Either with
you, or the market? A recent mortgage can likely be refinanced without a
lot of paperwork hassle. Contact your loan officer. Sign. Done.