What is a mortgage review?
A mortgage review is done by a mortgage expert like me who will take a look at your current loan balance, your monthly payment, interest rate, taxes, loan term, and mortgage insurance, if any. I can then compare that to your current and future needs to see if you would benefit from making a change.
Benefits of a mortgage review
Depending on your situation, your needs and future plans, it might be possible to
- shorten your loan term
- get a lower interest rate (see refinance options →)
- remove private mortgage insurance (PMI), or on FHA loans, refinance out of mortgage insurance, or
- get cash from your equity through a cash-out refinance or HELOC (compare your options →)
How often should I do a mortgage review?
It’s a good idea to consult with an advisor to keep tabs on your home loan once a year.
Life, interest rates, and economic conditions are always changing, so it’s worth checking in with a mortgage professional yearly to make sure you’re still in the right program for you.
If you review your mortgage, financial and lifestyle needs regularly, you’ll be better able to stay on track with your future real estate goals and dreams.
Answer a few quick questions…
and I’ll be happy to help you figure out whether you are on the right track with your home ownership.