Ready to pay less in interest on your mortgage and lower your monthly payments? A refinance may be the right step for you.
A mortgage refinance is the replacement of an existing mortgage with another mortgage under different terms. Mortgage refinancing can lower your monthly payments, which can add up to significant savings.
Knowing your current refinance mortgage rates is important. Red Tree Mortgage can keep you informed and help decide when a refinance may be best.
Reasons to consider a mortgage refinance:
- A refinance may lower the monthly payment in some situations. Compare the new rate, loan term, closing costs, and total finance charges before deciding. Read the official guidance.
- A cash-out refinance may let you consolidate other debt, but it replaces that debt with borrowing secured by your home. Compare closing costs, the new loan term, and total interest—not only the monthly payment. A refinance does not guarantee a lower rate, lower total costs, or a higher credit score. Read the official guidance.
- A shorter loan term may reduce total interest but can increase the monthly payment. Rates vary by lender and borrower; compare complete loan estimates for the terms you are considering. Read the official guidance.
When to Refinance Your Mortgage?
We offer information on a variety of mortgage refinancing rates and options. When you are ready to take the next step, contact Red Tree Mortgage. We can advise you on which mortgage refinancing program meets your needs.
*Refinancing the consumer’s existing loan, the consumer’s total finance charges may be higher over the life of the loan