Refinance Your New Jersey Mortgage Loan Now!
By: Brian Kordell
Mortgage rates are hitting an all-time low, and New Jersey homeowners need to take advantage of this historic time! These rates are not only great for potential buyers, but they allow current homeowners to refinance their existing loans into a more advantageous situation. Some of the benefits of refinancing include lower monthly payments and building your home’s equity faster. Refinancing also allows you to move out of a stressful financial situation simply be re-working the terms of your loan, and with the packages available to New Jersey homeowners, there really is no better tie to refinance than now.
There are several options for refinancing:
- Refinance with the lower interest rates currently available – this will lower your monthly payments, which can be especially helpful for those nervous about foreclosure
- Shorten the length of your loan – changing your loan’s term will give you long-term savings, as it will lessen the amount of interest you are paying over the life of the mortgage.
- Change your ARM (adjustable-rate mortgage) into a fixed-rate mortgage – this will enable you to have the same monthly payment amount over the course of your loan, which though it may mean a higher monthly payment, can provide peace of mind and security for the future.
The low rates that accessible to New Jersey mortgages today will not last forever – and waiting for them to fall lower could cause you to miss them! As the economy improves, mortgage rates will also. So act now! Start looking today at how refinancing your New Jersey home can save you money, and well as provide you with more time to spend with your loved ones and relax!
