Refinance with Go Direct Lenders

Refinance now and you could save up to thousands per year!

Refinancing your mortgage is a way to potentially lower your interest rate and monthly mortgage payment, switch to a fixed-rate refinance loan or use a portion of the available equity in your home to finance major expenses.

Need money for major expenses?
Consider a cash out refinance

Reasons to Refinance

Looking to increase your cash flow? One benefit of refinancing is that you can free up money in your budget by reducing the amount you are paying for your loan each month. You can lower your payments by refinancing for a longer time frame, like a 30-year fixed loan. Also, if you're not planning to stay in your home, you may choose to refinance at a lower interest rate using an adjustable-rate mortgage (ARM).

If you want to pay off your home sooner and lower the total amount of interest you're paying for it, you can refinance for a shorter term. If interest rates have dropped, you may be able to keep your monthly payment about the same, and pay off your home a few years earlier. Doing this could save you thousands of dollars.

You want to use your home's equity to take cash out.

Taking cash out means receiving a one-time cash payment during refinancing. To receive cash out, you'll need to get a loan for more than you owe on your principal mortgage. Remember that cash-out refinancing increases your mortgage.

Take cash out for:

Consolidate debt.

You can use your refinance as an opportunity to consolidate debt. This may allow you to lower the amount you're paying on your total monthly bills, because the interest rate on your mortgage is probably going to be lower than the rate you're getting on your credit cards or the other types of bank loans.

Achieve tax benefits.

Another reason to consider taking cash out on your refinance is that your mortgage interest may be tax-deductible, while your credit card interest is not.

Make a big purchase.

You may choose to use cash-out refinancing for nonrecurring expenses, like buying a car, paying for a wedding or financing an education-purchases that might otherwise require you to borrow funds at a higher, non tax-deductible interest rate.

Consider all your options.

If your home is an important part of your total net worth, make sure to consider all your options carefully before deciding to take cash out of your home's equity. Consolidating debt and then taking on new consumer debt will increase your overall liabilities, while potentially giving you a false sense of financial security. If you are considering cash-out refinancing to pay educational expenses, you may also want to look into state and federal education loan programs that also offer tax-deductible interest.

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