Mortgage Refinance
in Meridian, MS

Is It Time for You to Refinance in MS?

You know when the time is right to refinance when you can calculate that doing so will simplify your life and save you money. Following are a few examples of situations which may call for a refinance.

• Maybe you have an FHA mortgage requiring private mortgage insurance (PMI), but now you qualify for a conventional loan that does not require you to pay for PMI each month.
• Perhaps you will stay in your home longer than you originally envisioned. Switching from an adjustable rate to a fixed rate may make sense.
• On the other hand, maybe you will be moving away soon, and can save money by switching from a fixed-rate mortgage to an adjustable rate mortgage.
• If interest rates have gone down versus what you are currently paying, it could be time to refinance.
• Has your income gone up or down? Refinancing can help you keep up with your bills or pay your loan off sooner without prepayment penalties, depending on your situation.
• Have other loans you want to consolidate to reduce interest? You can do this with a refinance.
• If you now have a better credit score or DTI ratio than you did when you took out your mortgage, refinancing today could give you access to a more competitive loan.

In situations like the above, the financial benefits of a refinance can more than offset the cost of refinancing. We can help you do the math during your consultation.