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Refinancing Loans
 We offer fixed refinance loans for borrowers looking to consolidate adjustable rate home equity credit lines and revolving second mortgages. Our mortgage lenders provide fixed rate refinancing loans for homeowners who have been stuck with variable rate mortgages that have experienced increases in the monthly payment.
Homeowners can rest easy with our fixed rate debt consolidation loans that are available with both 1st and 2nd mortgage refinance transactions. FHA refinancing has opened the door for people to get affordable fixed rate mortgages.
| Are Your Monthly Payments Increasing from Your ARM Loan? |
 If your first mortgage has an adjustable rate that has caused your mortgage payments to rise, we strongly suggest refinancing into a fixed rate loan. Even if you can afford the payment, lock into a fixed interest rate while the mortgage rates are still favorable. You can cash out, pay off credit cards and save money.
Consider our FHA home loans that ensure fixed rates for 30 year loan terms.
Call Nationwide at 1-800-242-6986 and lock a fixed rate mortgage that saves you money!
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There are lots of reasons you might want to refinance. One of the main reasons homeowners refinance their mortgages is to take advantage of lower interest rates. If rates have lowered since the time of your original mortgage you may refinance your mortgage at a better rate and therefore reduce your monthly payments.
You may opt to refinance as a source of obtaining money at a low interest rate (for a major purchase or if you are just wanting to consolidate debt). See Using Equity to Your Advantage.
Cash Out Refinance.
Podcast: Home Refinance Talk... FHA Loans To the Rescue |
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In April of 2008, Nationwide Mortgage Loans spoke to PR Web recently about the positive impact the raised FHA loan limits should have with homeowners who need to refinance their ARM into a fixed rate mortgage loans. |
There are lots of reasons you might want to refinance. One of the main reasons homeowners refinance their mortgages is to take advantage of lower interest rates. If rates have lowered since the time of your original mortgage you may refinance your mortgage at a better rate and therefore reduce your monthly payments. You may opt to refinance as a source of obtaining money at a low interest rate (for a major purchase or if you are just wanting to consolidate debt). See Using Equity to Your Advantage.
If you are thinking about refinancing your mortgage, you might want to consider other types of mortgages. For example, you might want to look into a mortgage with a shorter term. If you currently have a 30-year fixed-rate loan, you might consider refinancing to a 10-, 15-, or 20-year loan which will lower the total amount of interest you will pay over the life of the loan and will let you to pay off your loan faster.
You also might want to switch an adjustable rate mortgage with high or no limits on interest rate increases to a fixed-rate mortgage which provides the predictability of knowing exactly what your mortgage payment will be for the life of the loan. It is important to determine the best type of a new mortgage. The type of mortgage loan you select will depend on how long you expect to continue living in your current home and the amount of monthly payment you can comfortably afford. If you don't plan to stay in your house for at least 5 to 7 years, it will be reasonable to consider an Adjustable Rate Mortgage, Balloon Mortgage or Two-Step Mortgage. An Adjustable Rate Mortgage traditionally offers lower interest rates during the early years of the loan than fixed-rate loans. A Two-Step Mortgage will give you a lower interest rate than a 30-year mortgage for the first five or seven years. A Balloon Mortgage offers lower interest rates for shorter term financing, usually five or seven years.
You can start to consider 15 or 30 year fixed rate mortgages if you plan to stay in your home for more than seven years.
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| Resource Tools |
Refinancing Calculator
Analyze the benefits of refinancing. Get help calculating the monthly payment and discover the net interest savings. It will also calculate how many months it will take to get a return on investments for the mortgage loan costs.
ARM vs. Fixed Rate Calculator
How does a fixed rate 1st or 2nd mortgage compare to an adjustable rate mortgage or home equity line of credit?
Call 1-800-242-6986
to speak with a loan officer live
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