Refinancing your existing home loan offers the benefit of getting a lower rate and saving you money every month. When you refinance with Nutter, you’ll maintain one low, monthly mortgage payment with the flexibility to pay for (or pay off!) what you need without the hassle of multiple loans. The most common reasons to refinance is to lower your monthly payments, take cash out or change your loan term.
If your current interest rate is higher than what is currently available in the market, refinancing to a lower rate means lowering the interest portion of your mortgage payments - thus, decreasing your monthly payments and increasing your monthly cash flow.
Leveraging the equity your house has gained over the years is one of the smartest ways to make your money work for you. With a cash back refinance, enjoy your home equity by getting the cash you need to help pay for (or pay off!) what you need, like:
Save money on interest and pay off your mortgage sooner when you refinance into a shorter term. Plus, a shorter term usually has a lower interest rate, which means you’ll pay significanly less interest overall since there are fewer payments.
However, it’s important to note that shortening your term may increase your monthly mortgage payments. But less of your payment will go toward interest, and more of it will go toward paying down your loan balance - helping you build equity and pay off your home faster.
Back Next - Exploring Your Refinance Options
Since 1951, we’ve helped people save hundreds, or even thousands of dollars a month, when they purchase or refinance their mortgage with Nutter.
Call 1-800-875-7334, send us an email or chat with us online and our team of non-commissioned Loan Officers will answer all your questions.
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