Mortgage Refinancing in Michigan – Is it a Good Idea?

Michigan Mortgage Refinancing Can Save You Thousands!

michigan mortgage refinancingMortgage refinancing is a hot topic in Michigan today, because many people have unfavorable terms on their current financing they want changed. If your monthly payments are getting out of hand, than this is something to think about.

So what is mortgage refinancing?

Basically, this is where you apply for a new loan. Then, you use that money to turn around and pay off your current home loan.

What is the purpose? There are a couple reasons you might want to do this. For one thing, the terms of the mortgage refinancing loan might be better, in that the interest rates are lower, or the total repayment period is longer. Both these scenarios will net you better monthly payments.

Why can you get better terms now than when you applied? For one thing, it might be a more lucrative time to get financing, because the economy might be different. Companies might be more willing to negotiate now than when you applied.

Also, you might have better credit than you initially did. Whatever the case, as long as the monthly payments are lower, it would be a good time to get mortgage refinancing.

What Types of Loans are Available for Mortgage Refinancing?

The other reason you might want to get mortgage refinancing is if you wanted to change from a fixed loan to variable, or vice versa. Generally the fixed are thought to be the safest. However, sometimes you save money with the variable rates.

In either case, the only way to find out if mortgage refinancing will net you better terms is to shop around. For this, you should go to an online mortgage broker. This is faster than calling up each company individually. These brokers will be able to get you lots of quotes instantly. All you do is fill out a quick form, and then you can see what kind of quotes you get. Then you can narrow your selection to the companies with the best terms. Using a mortgage refinancing broker is your best bet, because it will dramatically speed things up.

However, before you apply for mortgage refinancing, you want to ensure your credit score is as high as possible. For this, the only immediate thing you can do is get a copy of your credit report and look it over for errors. Should you find any, than you can dispute them and get them reversed. Once your in good shape credit wise, mortgage refinancing could prove to be well worth it.

Your 5-Star Refinance Experience Includes…

  • A no-cost/no-obligation mortgage review…
  • Find out how much you can save…
  • Answers to all your questions 24/7…
  • Detailed & accurate breakdown of costs…
  • Access to the lowest rates possible…
  • Unparalleled customer service…

 

Call (248) 674-6450 For an Instant Pre Approval

Cheryl S
Cheryl S
05/01/2024
Jason was phenomenal to work with during my mortgage process. He guided me with ease from beginning to end . He had patience when I had questions and explained everything so clearly. I am thankful to Jason and the entire team for making this a pretty stressful free experience!! New Year, New Home! Thanks Jason!!
miss renee
miss renee
03/01/2024
Trevor was very knowledgeable and his expertise was Super helpful in putting me in the right direction!
Jillian Mitchell
Jillian Mitchell
17/11/2023
Great experience all around. Jason, Trevor and Yolanda are a great team and always are reassuring and helpful.
Reel Champs
Reel Champs
23/10/2023
Jason and the Michigan Mortgage solutions team was amazing. I ran to them out of desperation because I had a terrible experience with a bigger mortgage company. It was the best decision of my life and Jason worked with me seamlessly and got my family into our dream house in less than 45 days. Highly recommend them as your FIRST STOP, you won’t regret it.
Michael Cordell
Michael Cordell
17/10/2023
I had a wonderful experience. The communication at every step along the process was exceptional. My contact went above and beyond and answered my questions at all times. Thank you,
Sanya Ross
Sanya Ross
29/09/2023
Jason was knowledgeable and always available. Made me feel at ease with such a huge purchase, I asked tons of questions and he never made me feel like it was a problem. I appreciate everything he did to make my first home purchase a success and I will refer all my friends and family to Michigan mortgage solutions!! Thank you again!
Jack Condrige
Jack Condrige
26/09/2023
Great experience. Very personal service.
Kyla Wilberding
Kyla Wilberding
20/09/2023
Can't say enough good things about Jason and his team. They made my first home buying experience quick, easy, and stress free. They communicated flawlessly and explained every step of the process, would recommend to anyone! Closed on my house in less than a month.
Tony Pliva
Tony Pliva
25/08/2023
Worked with Jason and his team for about a year before we found a home we wanted. The whole process was smooth and easy. Definitely recommend to anyone getting a mortgage!
Michigan Mortgage Solutions

Michigan Mortgage Solutions

Michigan Mortgage Solutions offers a variety of mortgage programs to suit your needs. FHA Loans, Conventional Loans and VA loans are just some examples. For experienced homeowners looking for cash out or refinancing options there is help available as well with the offer of an FHA streamline loan option that can be completed in 10 days! Michigan Mortgage Solution has something to offer every customer; whether you’re a first time home buyer or seasoned veteran our team will find the right Michigan mortgage solution for you!

Home Loans Services

Call Us