EZ Funding Loans is a full-service Mortgage broker offering expertise in every area of mortgage lending. We have financing options for almost every financial situation. Whether you need to purchase your home, refinance an existing loan to lower your payments or eliminate high interest credit card debt, you're self-employed, credit problems, bankruptcy, foreclosure, or collections, we most likely have an option for you. We have access to a full range of mortgage resources that are dedicated to finding the right loan with the best rates, terms and costs to meet our client's unique needs.
EZ Funding Loans not only have access to the best loans available, but they can review loan alternatives. Thank you for inquiring about EZ Funding Loans. We look forward to putting our mortgage service to work for you!
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When to Refinance
Take advantage of the refinancing boom caused by the lowest interest rates in nearly 40 years.
- Free up more money each month to do the things you've always wanted to do.
- Some homeowners have even refinanced twice with-in a rather short period of time to realize greater savings.
- A good place to start is EZ Funding Loans, who can help you save money now.
- Rates are on their way up, so don't miss out.
- Take a moment to find out how easy it is to get started.
- Speak to a EZ Funding Loans mortgage broker in your area.
Things to consider before Refinancing
The Interest Rate You Are Paying
Consider the interest rate you are now paying before refinancing. Compare it against the current interest rate to see how much you would save by mortgage refinancing.
The Current Interest Rate
Check the current interest rate. To get the benefits of a lower rate, you may have to pay fees associated with the loan, unless your lender is doing a no fee loan. Before committing to a refinance, be sure you have discussed the fee options with your loan officer.
How Long You Will Live In Your Home
The median length of stay in a home is 8.2 years. However, you may have a better idea of how long you will be in your home. If you do not plan on owning your home for much longer, the lower payments associated with the refinancing may not cover the mortgage refinancing fees. If you plan on staying in your home for a long period of time, refinancing could be an excellent way to reduce your monthly payments. Also, if you are planning on moving into a new home while retaining the old home as a rental property, refinancing is a solid plan. You can lower your monthly mortgage payment and in turn, increase your rental income.
If you have several outstanding bills, you may want to consider refinancing your home and in turn, consolidating and paying off your other debts. If you have equity in your home, you may be able to access that equity through a "cash out" refinance. You could choose to apply that equity to a debt consolidation plan, a new car, or home improvements.
15 Benefits to Refinancing
- Lower your monthly payment.
- Reduce your term and pay off your mortgage years sooner.
- Save thousands in interest charges over the life of your loan.
- Use a portion of your new mortgage to consolidate debts.
- Increase appraisal value of home by remodeling your home.
- Reduce interest rate charges by taking advantage of the low mortgage rates that are being offered.
- Refinancing your mortgage when rates are down could save you hundreds of dollars every month and thousands of dollars over the life of your loan.
- Changing from an adjustable rate mortgage to a fixed brings advantages. ARM's (adjustable rate mortgages) fluctuate with changes in the market rates. Your monthly payments are likely to go up as interest rates increase.
- By switching to a fixed-rate mortgage, you'll enjoy the stability of a low, fixed rate that stays low.
- A major benefit to refinancing is the ability to lock in a low interest rate for the duration of your loan.
- By reducing the term of your mortgage you build equity faster.
- Convert equity to cash.
- Use the equity in your home to add living space in your home as your family
- Refinancing with the cash-out option allows you to finance your spouse or children's education, buy a new car, invest in your business, take a vacation, make home improvements/additions, and so on.
- The cash-out option allow you to fund your business or use funds for investment purposes.