LOAN OPTIONS

PURCHASE

Buying a home is one of the single largest investments you will ever make in your lifetime. Whether you are purchasing a home for the first time or a multitude of times, there are many benefits to homeownership that can help you realize the American dream.

* Home Appreciation – Home values typically rise over time. This increases the equity you have in your property and ultimately leads to long-term wealth.
* Tax Deductible – Things like mortgage interest, property taxes, and other housing related expenses can be considered tax deductions. If you want to understand all of the different tax advantages with a home purchase, it’s advised to speak with a licensed tax professional.
* Real Estate Investing – By investing in real estate, you have the potential to increase your wealth through buying properties and selling them in the future for significant gains.
* Stability – With rents consistently on the rise, buying a home provides stability to your monthly payment (so long as your rate is fixed) whereas renting usually comes with significant rate hikes from year to year.
* Pride in Your Own Home – Owning your own home allows you to customize your home the way you see fit. It also allows you to connect with your local community over the long term.

REFINANCE

Refinancing pays off your existing mortgage and creates a new mortgage with new terms. There are many different reasons someone would want or need to refinance their home. When you refinance a home, you have several options of what your new loan terms will be, such as the interest rate, loan amount, and repayment period. Speaking with one of our licensed loan officers will help you establish clear financial goals in order to choose the best refinance loan for your specific needs.

Refinancing is a process many people take advantage of regardless of whether interest rates are rising or falling. There are several advantages to refinancing your mortgage:

* Lower Your Monthly Payment – Refinancing your home can result in significant reductions in your monthly payment. Even if your rate does not decrease, by renewing your loan term you could still see your mortgage payment decrease by hundreds of dollars a month.
* Get Rid of Debt – Refinancing can allow you to pay off any existing debts that may have much higher interest rates than your new mortgage. By paying off additional debts through a refinance, you will significantly increase your monthly cash flows by eliminating these other debt payments.
* Improve Your Loan Product – Just because you got a 5% interest rate two years ago doesn’t mean a better rate doesn’t exist today. Lock in a lower interest rate, switch from an Adjustable Rate to a Fixed Rate, or reduce your loan term; there are many ways to improve your current mortgage.
* Save Tens of Thousands in Interest – By lowering your interest rate in a refinance, you could reduce your total interest payments by tens of thousands if not well over a hundred thousand dollars over the life of the loan. This will lead to an overall increase in your long-term net worth.
* Make Home Improvements – Use your home’s equity to get that kitchen or bathroom you’ve always wanted. The interest rate on your mortgage will be much less than any other credit cards or loans you might use to finance these types of large purchases.
* Mortgage Interest is Tax Deductible – The interest you pay on your mortgage is generally a tax write off. You should always consult a licensed tax professional to determine what tax deductions you may be eligible for.