Free Up Your Finances With Mark Larson, Certified Mortgage Broker at West Ridge Financial
Alpine, United States - September 29, 2023 / West Ridge Financial - Mike Larsen /
Life can bring unexpected challenges that lead to unforeseen financial difficulties. If you're a homeowner seeking ways to reduce your expenses, considering refinancing is a smart move. Mike Larson of West Ridge Financial is your go-to choice when searching for a reliable mortgage broker in Alpine, UT. He provides clients with a personalized and transparent mortgage experience tailored for success!
Reasons to Refinance Your Home
When people buy homes, they usually want to avoid refinancing later on. The idea is to skip refinancing, but there's no need to be ashamed of this choice. Refinancing your home makes sense when you encounter financial difficulties. Deciding to refinance your mortgage can be a big decision. Don't worry, Mike Larson has a solution. Here are some reasons to think about mortgage refinancing—see if they fit your situation.
Substituting Loan Terms
You might be amazed how a straightforward loan adjustment can lead to savings. Refinancing allows you to exchange your current loan for a new one, providing various choices. For example, you can transition from an adjustable-rate to a fixed-rate mortgage.
Home Renovations
Choosing a regular mortgage refinance helps lower your monthly mortgage payment, providing you with more money in your budget for minor home improvements. These enhancements could involve painting the interior of your home, upgrading appliances, improving your landscaping, patio, or back deck, and changing your bathroom flooring.
Waving Goodbye to Mortgage Insurance
If you currently hold a government loan or possess 20% equity in your home, you're in luck! You have an extraordinary chance to remove the burden of your monthly mortgage insurance expense. On average, monthly mortgage insurance costs approximately $250. You could save up to $3,000 annually by getting rid of your mortgage insurance!
Fluctuating Interest Rates
Refinancing your mortgage is wise when current interest rates are much lower than your existing rate. It can lead to reduced monthly payments and substantial long-term savings. Consider it as taking advantage of favorable interest rate trends. Opting for refinancing at lower rates can be wise, especially if you originally bought your home when interest rates were high, particularly with a 30-year loan. It's worth considering the transition to a 15-year mortgage through refinancing to speed up the growth of your home equity.
Consolidating Debts
Choosing to refinance your mortgage makes sense when you experience significant life events like marriage, divorce, or the birth of a child, which often bring unforeseen financial shifts. Refinancing can reduce your overall interest costs and streamline debt management by combining high-interest debts, like credit card balances, into your mortgage. Additionally, if you've built up substantial home equity, you can use it to tackle significant expenses and lower your monthly payments, offering greater flexibility to fulfill various financial obligations.
Don’t Fret Any Longer. Refinance Your Home Today!
Choosing a mortgage loan broker in Alpine, UT, for your home refinancing that you can trust is crucial. Every homeowner's situation is different, requiring customized solutions. Rely on Mike Larson at West Ridge Financial to assess your financial situation and discover the perfect solution crafted just for you. Reach out to him or visit his website for further details.
Contact Information:
West Ridge Financial - Mike Larsen
1279 E Lone Peak Dr
Alpine, UT 84004
United States
Contact West Ridge Financial - Mike Larsen
(801) 971-3956
http://www.westridgefinancial.com/
