Refinancing Your Mortgage

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Home Refinancing
You may be refinancing your existing home into a lower, better term mortgage loan ... or maybe for some other reason. Refinancing your home requires the same steps and approval as purchasing a home. Get the facts:

Page Topics:

reasons why homeowners refinance
cash-out options and supporting guides and tips


Avg Rates: download sheet to shop lending rates
APPLY NOW !	submit your application through our network

use this FREE refi lending checklist as a guide

Home Refinancing Guide:

to Find a Better Rate:
the key reason why home owners refinance their mortgage is to lower their current rate. Your new rate should be 1-2 points lower than your current rate in order to benefit:


	calc:	break-even point on refinancing
	calc:	compare mortgage refi terms

to Get Into a Stable Mortgage Product:
homeowners with payment-risk mortgages such as adjustables, interest-only, minimum payments, and other high-risk mortgages will refinance into more stable, fixed-rate mortgage loan.

Many of these payment-risk mortgages do not build equity and/or are subject to negative amortization:


	info:	view fixed-rate mortgages

to Arrange Better Payoff Terms:
homeowners may want to shorten or lengthen their payoff terms depending on their financial situation:


	calc:	compare mortgage payoff calc
	info:	view mortgage management

to Get Some Cash Out:
many homeowners will refinance their home mortgage to take extra cash out for home improvements, paying off debts, college education, auto buying, and other.

They will refinance at a higher mortgage value to repay their existing mortgage loan and take cash out for need expenditures.


	calc:	compare mortgage refi terms
	info:	view mortage management
	info:	cash-out ideas and tips

About PMI:

Remodel Your Home:
Use the extra cash to remodel the kitchen, bathroom, attic, and other. Capture ideas and plans for starting your project. Use our complete directory of ideas and remodeling tools:


	info:	click for home remodeling ideas
	info:	click for home remodeling 6-step plan
	info:	download home remodeling spec sheet

		note: links will connect to affiliated web site

Make Home Improvements:
Use the extra cash to make home improvements and buy home decor:


	main floor:
	upstairs:
	attic:
	basement:
	garden:
	projects:
	ex home:
	garage:

		note: links will connect to affiliated web site

Consolidate Debts:
Use the extra cash to consolidate and payoff high interest rate card and other debt:


	info:	credit card debt reduction guide
	info:	personal loan debt reduction guide
	info:	click for debt management

Budget Management
learn about budget management and bills reduction:


	info:	understand budget management
	info:	link to our Budget worksheet
	info:	online tips for lowering monthly costs

		note: links will connect to affiliated web site

Ideas to Increase Income:
Use the extra cash to advance your education or strengthen your career. There are four ways to increase your income:

Go Back to School
you can go back to school to increase your education or skill levels for higher income pay:
visit our education planning center for programs
You can Change Jobs or Career
you might consider a job or career change to increase your pay -- learn what it takes to find the right company and job:
visit our career planning center for ideas
Start a Home Business
the new economy allows for micro businesses from the home -- use the latest in internet technology to reach your customer:
visit our Home Business Center for ideas
Buy an Established Business
go ahead and become a small business owner -- buy an established business that you can manage and grow:
our Business Brokerage Unit can help

note: links will connect to affiliated web site

Pay for College:
Use the extra cash to pay college expenses for your child or yourself. We operate an extensive college planning center for HS students and graduates:


	guide:	senior college planning guide
	guide:	junior college planning guide
	guide:	graduate school guide
	guide:	college prep guide

		note: links will connect to affiliated web site

Build a New Home:
Use the extra cash as a down payment to build a new home. Capture ideas and plans for starting your home construction. Complete online directory:


	info:	go to our Home Construction Center
	info:	download home construction spec sheet
	info:	click for home building checklist
	info:	click for home building 7-step plan

		note: links will connect to affiliated web site

Take Some Travel:
Use the extra cash to travel the world. We have discount travel programs on air, lodging, tickets, last minute deals and more:


	tips:	go to our Discount Travel Center
	tips:	last minute travel deals
	tips:	click for discount cruises
	tips:	click for vacation specials

		note: links will connect to affiliated web site

PickMyMortgage.com

how best to finance or refi your home

Home Refinancing Guide

Cash-Out Options