Attain Financial Freedom: Refinancing With a Christian Lender

Paying a monthly mortgage elicits pride in those lucky enough to be homeowners. However, interest rates constantly change and can significantly impact the cost of home ownership. When interest rates rise, it's a good idea to stay put. However, if interest rates go lower than the current rate on a mortgage loan, it may be a good idea to look into refinancing. 

So how does one choose a mortgage lender for refinancing? A company that is honest and shares the same core values is the way to go. There are a lot of mortgage companies out there, but some lenders use dishonest and deceptive practices to lure customers in. A faith-based company prioritizes people. When refinancing with a Christian lender, a homeowner feels peace and receives some of the best services in the industry.

The Advantages of Refinancing a Mortgage are Numerous

Refinancing offers more than simply lowering the amount of a monthly mortgage payment. Refinancing may reduce the number of years left on a mortgage loan. Consolidating bills and high-interest credit cards with a new mortgage loan eliminates years of financial stress and allows families to move forward without creditors at their heels. Refinancing a home loan can provide cash for home improvements, such as a kitchen or bath renovation or a new roof, without incurring more bills.

Refinancing Provides Peace of Mind and Financial Freedom

Refinancing a mortgage has multiple benefits. Securing a lower interest rate reduces monthly home loan payments and leaves more available cash on hand. Paying less interest over the life of a loan means more money for other things. It just makes good financial sense. 

The Advantages of a Cash-Out Refinance

A cash-out refinance provides cash in hand to use for multiple purposes. Every home ages and improvements become necessary along the way. Making long overdue repairs using funds from refinancing can increase a home's value.

Use funds from a cash-out refinance loan for home upgrades, such as a screened-in porch, new exterior siding, or an in-ground swimming pool. Money from a cash-out option can also help to consolidate bills, including medical bills and student loan debt, or pay off high-interest credit cards. If a cash-out refinance loan has a lower interest rate than the previous loan, it may allow for project funding without an increase in the monthly mortgage payment.

Every Situation Has Different Refinancing Needs 

Home loans with variable interest rates typically go up at some point. Refinancing helps lock in a rate that fits the budget. Depending on the need, there are various types of refinance loans to choose from.

An individual trying to get out of debt may choose a cash-out refinance loan to consolidate everything into one payment. A cash-out loan also helps to make home improvements and repairs possible. For the individual who wants to do something wild and out of the ordinary, taking the trip of a lifetime could become a reality by refinancing a home loan to make it happen.

Financial Freedom is Within Reach

Obtaining a refinance loan through a reputable mortgage lender reduces financial stress. Lowering the total amount owed on a mortgage loan by reducing the interest rate provides security and helps to keep a budget in line. Leveraging the equity in a home allows for the funding of projects, paying off debt, or using the extra cash for personal fulfillment.