Learn more about when to consolidate and refinance federal and private loans.American Financing is an established Colorado based national mortgage banker licensed in all 50 states, offering competitive interest rates and superior customer service.Give us a call to discuss the personalized rate offer that you received in your mailbox.You may also explore today’s published rates below.
The appraisal or book value report can offset the needed down payment either positively or negatively.
Another common reason for refinancing a mortgage is to consolidate debt such as higher interest credit card balances and loans.
By consolidating these debts into your mortgage at a lower interest rate, you can save money and have all your debt in one place.
There are many reasons why homeowners refinance: the opportunity to obtain a lower interest rate; the chance to shorten the term of their mortgage; the desire to convert from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or vice versa; the opportunity to tap a home's equity in order to finance a large purchase; and the desire to consolidate debt.
Some of these motivations have benefits and pitfalls.