Sometimes your current loan may no longer suit your situation and goals and it may be worthwhile to explore other loan options. We offer many different loan programs; your loan officer can help you find the best fit for you
Shortening your loan term has two great benefits, you will pay off your loan quicker and save money by paying less in interest during the life of the loan.
Augusta can advise you of your options regarding costs and interest rates.
There are several reasons you may have picked a non-conventional loan program, such as FHA, bridge loan, or private money loan.
However, when you qualify for a conventional loan, you can refinance to a more traditional mortgage, eliminating FHA mortgage insurance and opening possibilities of getting cashback using home equity.
An Adjustable-Rate Mortgage (ARM) can provide homeowners with extremely low “introductory” interest rates.
However, when the loan enters an adjustable period and market conditions change, it can cause an increase in rates and payments.
Refinancing into a fixed-rate loan may be worthwhile to provide payment stability.
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