Some homeowners who already paid off their home decide to refinance their homes just to get cash. They refinance their home for the sole purpose of getting Cash. This could be used to buy a second home in a different area or to invest or to start a business.
Everyone is concerned about inflation. Having an ARM is risky, and homeowners would rather have a fixed rate mortgage loan. A lot of homeowners do not pay attention to a low-rate, but would rather have a stable rate instead. Just for a rate to be currently low, it does not mean that it could not increase significantly in the future. There is certainly a tradeoff between rate stability and the rate itself, this is an issue any homeowner should consider thoroughly.
This is certainly the most obvious reason! Rates have been sinking for the past few years, and many homeowners are taking advantage of the new rates. Lowering your interest will certainly help lower your monthly mortgage payments.
Some homeowners want to combine their first mortgage with the home equity line of credit. The recent trends showed that even though the line of credit is low, homeowners still wanted to consolidate. They are just worried that in the future this rate could significantly increase.
When home prices increase, homeowners can refinance their homes for more than they owe. This gives them extra cash that they could invest it, or do whatever they want with it.
Bernard E. Cohen Investments Inc. CA. Real Estate Broker BRE # 00941794 Company NMLS # 238240 Individual NMLS # 292411 .
Bernard E. Cohen Investments Inc. CA. Office Manager
We are not a lender, we are a match maker. When you submit the form above, we look at your home mortgage/refinance needs. Then, we match you with one of our reputable lenders based on your precise needs. We ask many questions, because we do real matching to quality lenders. Our matchmaking require many pieces of information including property value, mortgage balance, zip code, needed cash-out (if applicable) and many more. Based on given answers, we connect you (Free and No Obligation Service) with those lenders. We do not charge homeowners for our free service, and you should take advantage of this opportunity if you need any help in regarding your home mortgage in any way. All you need to do is submit the exclusive form above right now.