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Refinancing
Thinking of refinancing your home?
Lakeside Mortgage Corp. can help you determine if refinancing your home is a wise decision.
Here are a few things to think about before refinancing your home:
1. What is your current interest rate?
Mortgage interest rates are still significantly low. Refinancing your home to a lower interest rate can potentially save you hundreds to thousands of dollars per year.
2. Is your loan a fixed or adjustable rate?
Fixed interest rates will not adjust for the term of the mortgage. However, if you have an adjustable interest rate, it could potentially increase significantly when the term is up, causing your monthly mortgage payment to skyrocket. Lakeside Mortgage Corp. offers many programs to secure the lowest rate for your short- and long-term needs.
3. Did you purchase a new home?
If you recently purchased a new home, you may have noticed an increase in your property’s value. If so, you may be able to combine a first and second mortgage together and even eliminate private mortgage insurance.
4. Do you need cash for home improvements? Pay off credit cards?
When you refinance, you can acquire cash through the equity of your home. With this money you can pay off debt, use it for home improvements, or any of your other needs.
When refinancing, always make sure it is beneficial to you. If you have questions, please give Lakeside Mortgage Corp. a call and an experienced loan officer will assist you.
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