You may
decide to refinance to accomplish a variety of goals,
but for some basic reasons: To save money by getting
a lower interest rate or to save money by using a
tax-deductible loan (the refinance) to pay off non-tax-deductible
debt.
People most commonly use a refinance loan
to:
- Convert a higher interest rate mortgage to a lower
interest
- Lower their cost of debt by converting non-tax-deductible
debt, such as credit cards or car loans, to tax-deductible
mortgage debt.
- Convert an adjustable rate mortgage to a fixed
rate.
- Consolidate a first and second mortgage into one
lower-rate mortgage.
- To get cash for family needs/expenses (tuition,
medical expenses, etc.)
- To reduce the term of their mortgage.
The key point to remember in all these instances
is a refinanced mortgage offers you tax-deductible
borrowing (which effectively lowers your cost of borrowing).
Is a refinance a smart move for you? To find out,
call an Infiniti Mortgage Loan Advisor at 505-881-0801
who will assist you with your application. You’ll
get our honest, objective opinion on what’s
most advantageous for you.
APPLY NOW WITH
OUR QUICK ONLINE APPLICATION
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