Reasons To Refinance
 Lower
Your Mortgage Payment
There are 2 ways refinancing can lower your payment. The obvious one
is to simply refinance at a lower interest rate than what you have. Fact
is, a drop of just a half to three quarters of a percent can lower your
payment.
You can also change the term (length of time) on your mortgage to lower
your payment. Switching from a 15 to a 30 year term can significantly
lower your payment. But, if long term savings is more appealing, refinancing
from a 30 year to a 15 year can save you thousands of dollars over the
life of your mortgage.
Convert an Adjustable Rate Mortgage to a Fixed Rate or Vise Versa
Homeowners with Adjustable Rate Mortgages (ARM) should consider refinancing
to a fixed rate or even another ARM when or before their interest rate
is set to adjust if current fixed rates are favorable. You might want
to consider refinancing to an ARM if you're planning on being in the home
for only a few years. There's no sense in paying the higher interest on
a 30 year fixed mortgage, when you can pay a lower rate for the few years
you're living in the home. If you'll be in the home much longer than that,
then it makes more sense to convert to a fixed rate loan.
On the flip side, if you already have a fixed rate mortgage and are considering
moving within the next couple of years, you may want to consider refinancing
to an ARM to save money. Converting from a fixed rate mortgage into an
ARM can lower your monthly payment initially and is ideal if you're planning
on selling within the next few years.
Get Cash / Pay Off Credit Cards and Other Debt
Homeowners can refinance to access the equity in their home through a
cash-out refinance. They use the money for all sorts of reasons: to pay
off credit cards and other higher-interest debt: finance home improvements;
pay for a college tuition; buy a new car; even go on vacation.
Refinance Options with Sunset Mortgage Company
- Reduce or shorten your term, saving you thousands of dollars and paying
off your mortgage a lesser amount of years
- Home Equity Line of Credit
- Refinance 100% of your appraised value
- 125% Value Program
- Borrow for over and above the value of your property - add a pool...
Apply Online: If you would like to pre-qualify for a loan or mortgage
with Sunset Mortgage Company, we ask that you fill out our secure online
application. Applying is easy and free! We specialize in in troubled and
problem credit. You will be asked questions about your finances, assets,
employment and more, so make sure you have this information with you when
you begin the application process. Once complete, a representative will
contact you to go over your application and to discuss your needs further.
Click here to fill out our online
application now.
Contact Us: If you have any questions or comments, we would like
to hear from you. Contact us today by filling out our online
form on the Contact Us page. Our loan professionals are standing by and are eager
to assist you in any way possible. We want your home financing experience
to be the very best. We will strive to ensure you receive the top quality
service you deserve. Click here to fill out our
online contact form.
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