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Michigan Mortgage Refinancing Can Save You Thousands!

michigan mortgage refinancing

Michigan Mortgage Refinancing

Mortgage 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.
Accurate Mortgage Payment Calculations on The Go
Our mortgage app allows borrowers to calculate mortgage payments using up to date mortgage rates as well as accurate mortgage insurance premiums based on product and credit score

Designed with ease of use and accuracy in mind

Most mortgage calculators force users to input unknown data like mortgage rates or mortgage insurance. Without the correct data these calculations become worthless. Our app populates this data for the user based on up to date mortgage rates and accurate mortgage insurance quotes based on loan product and credit score.

Buit-in convenience within the admin area

The app has a really cool admin area that allows you to securely scan and send important mortgage documents right from your phone. No need for a fax machine or a scanner when our app will do the job.

Install on your phone for easy access 24/7

Our mortgage app can be installed by simply entering your mobile number and opening a text. Once installed, you'll have full access to the app and be able to perform unlimited mortgage calculations for any available mortgage product. This allows you to accurately compare different mortgage products on the go.

All mortgage calculations are saved

You can review any of your previous mortgage calculations from within the app. This makes it easier to compare different mortgage programs as well as other loan parameters. This can save you from running the same numbers over and over again.

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