Mortgage Refinance

in Indiana, Colorado, Kentucky, Tennessee, Florida or Texas.

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If your neighbors are paying a lower interest rate than you are on your home loan, you might wonder whether you qualify for more competitive rates and terms.

In many cases, the answer may be “yes.”

By refinancing your mortgage in Indiana, Colorado, Kentucky, Tennessee and Florida you might be to reduce your interest rate and enjoy other outstanding benefits.

Benefits of Refinancing Your Home Loan

The exact benefits of refinancing depend on your specific scenario. But here are some possible advantages:

  • You could reduce your interest rate.
  • You might be able to stop paying for MIP or PMI.
  • You can get more time to pay off the mortgage.
  • You can change your interest rate format.
  • You can renegotiate other loan terms.

When Is It Time to Refinance?

While the advantages of refinancing can greatly enhance the flexibility, convenience, and affordability of your mortgage, there is a cost to refinancing a home loan.

The key to making a refinance work for you is to time it well. How do you know if refinancing at this time will pay off? Here are some scenarios where we might recommend a refinance:

When your qualifications are more competitive. With a higher credit score or lower DTI ratio than you had when you applied for your original mortgage, you might now qualify for more competitive rates and terms.

When interest rates have dropped. If interest rates have decreased relative to what you are paying right now, it might be time to try refinancing to lock in today’s more competitive rates.

When your income has gone down. Sometimes, homeowners may turn to refinancing if their incomes have dropped. By refinancing to a longer loan term, it is possible to decrease the monthly mortgage payment for a more affordable home loan.

When you own more equity. If you pay for mortgage insurance each month, it is worth checking to see whether you now own enough equity in your home to qualify for a mortgage without insurance.

When you are consolidating. Borrowers with high interest debts can benefit from consolidating them into a home loan with a lower interest rate.

When your plans have changed. If you plan to live in your home for longer or shorter than you originally expected, changing to a fixed or adjustable interest rate might help you save money. Some borrowers also switch to a fixed rate for peace of mind.

See What Our Clients Are Saying About Us!

Victoria D.
Victoria D.
01:12 20 Jan 24
Working with American Mortgage Solutions has been a great experience. I worked with Kris and she answered every question and truly made our home buying experience the best.
Jeffrey G.
Jeffrey G.
01:13 15 Dec 23
Top notch service. Brady and his team from start to finish were very professional, always answered the phone for any questions we had through the process to streamline our purchaseThanks again
April B.
April B.
18:53 25 Aug 23
I can’t express how grateful and satisfied I am with American Mortgage Solutions after an amazing 25 years of collaboration! From my very first home purchase in 1998 to my last in 2023, they have consistently provided unparalleled service that goes above and beyond mere business transactions.From day one, American Mortgage Solution impressed me with their professionalism, expertise, and genuine care for my financial well-being. They guided me through the intricate mortgage process, patiently answering my questions and ensuring I feel confident at every step.Over the years, I’ve had the privilege of engaging with various members of their team, each one providing their commitment to excellence. In an ever-changing environment, they have maintained a high standard of service that doesn’t waiver with time.

Refinance Now and Start Saving Today

Are you ready to find out if you qualify for a lower interest rate and other exciting advantages? Find out today if you can refinance your home loan. Please give us a call today at (502) 327-9770 to schedule your consultation in Kentucky, or at (239) 766-8344 to schedule your consultation in Florida. We are also licensed in Tennessee, Indiana and Colorado. Let’s get you the competitive rates you deserve.