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     Refinancing can be a good idea if you want to: 

    * Lower your monthly payments.
Refinancing allows you to get out of a high interest rate loan to take advantage of lower rates thus lowering your monthly payments. 
   Extending the life of your mortgage is also another way to lower your payments. 
   Even with a small difference in rates, refinancing can save you a substantial amount of money each month. 

   *  Enjoy the convenience of one low monthly payment. 
Refinancing allows you to consolidate all of your bills into one low monthly payment - saving significantly on interest charges and late fees. 

    * Build up equity more quickly.
Converting to a mortgage with a shorter term will enable you to significantly lower your total interest costs because you are paying off the loan sooner. Besides, your monthly payments may not increase at all depending on your initial rate. 

    * Draw on the equity built up in your house.
You could use your home equity to free up some cash and pay for a major purchase or for other major expenses such as medical bills, home improvement etc...

    * Switch from an adjustable rate to a fixed rate.
The advantage of fixed rates is that you know exactly what your mortgage payment will be for the life of the loan. With an adjustable-rate mortgage, rates may start to raise, increasing your payments. A fixed-rate mortgage will provide you with peace of mind and steady monthly payments. 

It's also beneficial if the interest rate is low. You can lock into a great rate and save even more money. For example, if you plan to remain in your house for the long-term, and the rates are favorable, refinancing with a long-term, fixed-rate mortgage (at 15, 20 or 30 years) can save you significant money over the life of your mortgage.

Is now the best time to refinance?
Now is a good time to save money by taking advantage of low interest rates. American households are increasingly relying on refinancing to improve their financial situation. There are many benefits to refinancing, but in order to determine if it makes sense for you, we will analyze your current financial situation and your plans for the future. You can rely on IV Alliance Mortgage's experience and expertise to find the perfect loan for you.

Things to consider when refinancing:
Do a break-even analysis. 
We will weigh the benefits and drawbacks of refinancing by figuring out how much we can save you each month. 

Provide us with documents in a timely manner. 
In order for your loan to get approved and funded quickly, you should have all of your paperwork ready to go at the appropriate times.

Be sure to read all documents. 
Try to allow yourself time to read over everything before your closing, so you are prepared to ask any questions or raise any concerns. 

Avoid using the county tax assessor's value as the market value of your home. 
Mortgage companies don't use this, so why should you? Most lenders base your home's market value on many variables, including the value of other homes in your area. This will usually give you a higher appraisal value than the county tax assessor's. 

Never feel intimidated by the whole process. 
Ask questions if you're unsure of what's occurring. We will walk you through the entire loan process from start to finish. 

How can IV Alliance Mortgage and Real Estate help you? 
One of IV Alliance's loan officer can help you with a variety of refinancing options and terms, so you can have a customized solution that makes sense for you. IV Alliance can help you find better terms today. Find out how. A 10-minute call with one of our loan officers can get you on your way.