Gulfport Real Estate – Why Refinance
Gulfport Mortgage Refinance – Why and How Much
There are a number of reasons for consumers to check out how the right Gulfport mortgage may save them literally tens of thousands of dollars.
However, one of the most important things to remember is that a new mortgage usually makes more sense to those individuals who are going to stay in the home for many more years. If you should sell your home and move shortly after you sign for a new mortgage loan then you might have difficulty breaking-even on the deal.
What type of mortgage will be your best bet?
Fixed Rate Mortgages and Adjustable Rate Mortgages (ARM) are both available for qualified homeowners. With an ARM, your payments are generally lower at the onset. However the rate can change dramatically over the upcoming years.
If you are only considering this home to be a short-term investment an ARM could be a good choice. However, those who are looking to keep their home on a more permanent basis, an adjustable rate mortgage might not be the best path.
With a fixed rate mortgage there is security in knowing that the interest rate will remain unchanged during the contract period. Many former ARM consumers have now changed to a fixed rate mortgage to avoid becoming a casualty of previous economic upheavals.
A refinancing loan could allow homeowners the opportunity to eliminate private mortgage insurance from the deal. This depends on the lending agency, how much you owe, how much you plan to borrow and the actual home value.
Applying for a Gulport mortgage would also let you make the most of the home equity you have built up over the years. Home equity could provide you with the funds for college or home improvements. You could also use the money for other investment opportunities.
Consider the amount of money that you will be requesting. Points could be applied by the lender. This is a an amount of money that is prepaid upon the actual closing of the loan agreement. One percent of your loan would be the equivalent of a single point.
The lending agency is going to charge you for the processing and origination fees as well as the costs for title searches, title insurance and credit reports. There are also the fees that must be paid to the attorneys who review the paperwork.
To learn more about the pros and cons of refinancing your Gulfport home mortgage, contact our office today at 228-275-7500.
Testimonials
Amanda and Associates helped me every step of the way through the difficult situation of selling my home. We had a difficult time in dealing with the lender and Amanda’s team made it much easier.
Dean Hoehn
After browsing through houses for a few weeks on Zillow, Trulia, Movado, etc. I was feeling so overwhelmed and then God sent an angel! Mary called me out of the blue and I didn’t know what to do but accept her assistance. I am so glad I did! She has made the hassle of house searching and buying such a memorable and enjoyable experience. Mary has been upfront with us about each house we’ve looked at, giving us the positives and negatives. Mary wasn’t just interested in selling us a house. S…
Steven and Sarah Stogner
We contacted Amanda & Associates in December 2015 and was put in contact with Jordyn Favret. From day one, Jordyn was thorough and professional. She went above and beyond to deal with an extremely difficult seller even spending hours in the evening and on the weekends to close the deal on the property. Jordyn answered all of our questions and when she didn’t know the answer, she made the effort to investigate it and get back with us in a timely manner. She met with the rental manager and viewed …
Tami McGurk
“Amanda’s team helped us sell our house and they were fantastic! We had to move across the country and they were very prompt about finding a buyer and taking care of everything. Amanda has wonderful responsiveness and is very good about communicating all knowledge about selling a house. Highly recommend!!”
Andrea & Kyle Woodard
First off, let me say the pleasure was all ours. We appreciate the time McKinsey & her team took with us. She stayed on top of the situation and made things happen. It was our first time to use a Realtor and it was a pleasure with us. She answered questions immediately or found the answer for us in timely manner. We never felt pressured or uncomfortable. It was great doing business with her and the team and look forward to future business.
David & Summer Pipkins
They do very well in getting the information needed for you so you can decide on the property being reviewed. Very professional and quick to respond. They keep you informed on all steps during the process of the purchase.
David Watts
Without a doubt, this has been the best home purchasing experience. I am so impress with everyone at Amanda & Associates. David Becher was exceptional! He contacted me on a regular basis and understood my goals. Finding the perfect cottage on the Gulf Coast has moved me one step closer to retiring in such a beautiful and fun area. Brittany Brackett is another person I want to acknowledge. She consistently communicated with me on the administrative paperwork. Because of her attention to detail, …
Myra Ancheta
“Amanda’s team really went above and beyond for me while trying to sell my house. I live out of state and Amanda was valuable in several aspects, even going as far as checking on the plumbing during the ice storm that struck south Mississippi this past winter. I’m very pleased with the service that was provided and I highly recommend them.”
Beverly Hill
I have worked with Amanda and her team on several transactions, both as a buyer and a seller. They are very proactive, accessible, and responsive. The team knows the market very well, and lays out a well thought out and deliberate strategy to close a deal in a timely manner.
Paige Jennings
“As a first time home buyer, I didn’t really know of what to expect. After meeting with Amanda and talking with her the first time, I felt comfortable enough to ask lots of questions and she was very patient with me. As we closed on our house today, I cannot be any happier that Amanda’s team is the one that helped me along the way. She has gone above and beyond my expectations. Thank you to your team for a great job!”
Sarah Russell