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Why Refinance?

Homeowners refinance for different reasons, but the process of refinancing a mortgage should result in some benefit to the homeowner. A borrower may choose to refinance to obtain a lower interest rate and a lower monthly payment, or change the type of loan that they have. Borrowers who started with a high-interest sub-prime loan can often reap the rewards of an improved credit standing by refinancing. Some homeowners refinance to 'cash out' and take advantage of the equity they have earned, while others may choose to refinance to shorten their loan term and build equity more quickly.

Regardless of the reason for refinancing, the mortgage consultant will need to know what the existing loan scenario entails. He/she will review the homeowner's long-term goals and provide a comprehensive spreadsheet that outlines various loan programs that will provide noteworthy benefits to the homeowner.

Bear in mind, refinancing to obtain a lower interest payment could also result in a lower deduction at tax time. The homeowner's tax consultant and mortgage consultant should work hand-in-hand with their mutual client's best interest in mind.

Fairway Independent Mortgage Corporation NMLS Entity ID # 2289
380 West Broadway Suite 101, South Boston, MA  02127
Direct:  (617) 456-1700
Cell:  (617) 407-0001
Copyright © 2019 “Licensed Mortgage Banker – NYS Banking Department” - "Licensed by the Virginia State Corporation Commission", VA Lic # MC-4040 - Fairway Independent Mortgage Corp Mortgage Broker, NMLS Entity ID # 2289 - Licensed by the N.J. Department of Banking and Insurance - Licensed by the New Hampshire Banking Department
"MA Mortgage Broker and Lender License #MC2289"
Complaints may be directed to:
(877) 699-0353 or customerservice@fairwaymc.com
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