Six Reasons You May Want to
Refinance Now

Attention Veterans - Cash out refinances up to 100% of the
appraised value!

1.  Refinance to Shorten the Term of Your Loan.
If you have a 30-year mortgage, now may be a great time to consider refinancing.
With low interest rates, you may find that a 15-year mortgage is not much
more expensive than the 30-year loan payment you have been paying.

2.  Refinance to Lower Your Interest Rate.
Mortgage rates at 31 month low!   As I
write this, 30-year mortgage rates are hovering around 3.750% with excellent
credit and 15-year loans can be secured for an even lower rate. If your home
is now financed at a higher interest rate, it maybe a great time for you to consider
refinancing. You could literally save tens of thousands of dollars just by taking
the time to fill out the necessary paperwork and gather the needed documents.

3.  Refinance to Lower Your Payment.
Refinancing your mortgage at a lower interest rate could mean drastically
reducing your payment and saving tens of thousands of dollars in interest.
Lowering your mortgage payment could also free up hundreds of dollars
per month that could be saved or invested. Although refinancing to lower
your payment could increase the term of your loan, it could make sense in
your particular situation.

4.  Refinance from an Adjustable Rate Mortgage
(ARM) to a Fixed Rate Loan.
If you currently have an adjustable-rate mortgage, now may be the perfect
time to refinance into a fixed-rate loan. Interest rates are low now, but they
may not stay this low forever. Locking into a low, fixed rate can protect you
from rising interest rates in coming years. Additionally, a fixed payment is
easier to plan for and budget.

5.  Refinance to Cash Out Home Equity.
It’s a tempting proposition to cash out your home equity by refinancing
your home. It could even be a great financial move in some circumstances.
For instance, it may make sense to cash out some of your home equity in
order to buy an investment property, start a business, make home
improvements or pay off credit card debt.  It mostly depends on what you
are trying to achieve and if you are someone who can manage your
debts responsibly.

6.  Refinance to Eliminate Monthly Private
Mortgage Insurance (PMI)
Have monthly pmi now?  Wish it would go away?  If someone told you
that you need 20% equity... they were wrong!

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Bill Brown
NMLS# 1460898
Top 3 Lender
CBC National Bank, a division of First Federal Bank is a FDIC insured nationally chartered mutual savings bank
approved lender.  NMLS# 408902.  CBC National Bank’s processing center is located at 3010 Royal Blvd S, Alpharetta,
GA 30022. We are an approved VA and FHA Lender. VA Lender: #6720800000 | FHA Lender: #3065900001