Lower Your Payment
Lowering your mortgage payment is effectively like giving yourself a raise, with more money ending up in your bank account every month. In today's market, home values are up and rates are low—making it the perfect time to consult with a Sierra Pacific Mortgage professional to see if you qualify for a better rate.
A lower mortgage payment can have a positive impact on your budget, making it easier to pay your other bills, as well.
Refinancing can be accomplished by lowering your interest rate, extending the term of the loan, or a combination of both. When you refinance, it's also an ideal opportunity to make other adjustments to your current mortgage situation. For example, you may want to transition from an adjustable-rate loan to a fixed-rate loan, or, if you have sufficient equity in your home, to pull out cash.
As with any home loan, your Sierra Pacific loan expert will help you determine which refinancing approach is best for your financial and personal needs. Part of that is determining your breakeven point—the length of time required for the lower payments to balance out the closing costs. We always run the numbers so you can feel fully informed when making your decision.