St. Louis Refinancing Presents -

Which St. Louis Refinancing and Lending Option is Best for You and Your Family?

Liberty Lending Consultants and their caring mortgage professionals will give you unmatched personalized service you deserve to help you get the very best St. Louis refinancing and mortgage loan at a low cost.
 

But since there is more than just one St Louis refinancing option, here are some tips to consider that will help you with your financial decision.
 

1.)  Are you refinancing primarily to lower your rate and monthly payments?

Then your best option might be a low fixed-rate loan.  If on the other hand you have an ARM -- adjustable rate mortgage -- where the interest rate varies, even if it's low now, many of our clients took the opportunity and refinanced their home mortgage locking themselves into a low fixed-rate mortgage for the life of their loan.

This may be the best financial avenue especially if you plan on staying in your house for the next several years or so.  However, if you do see yourself moving within the next few years, an ARM with a low initial rate might be the best way to lower your monthly payment.

2.)  Are you refinancing primarily to cash out some home equity?

Homeowners do this all the time to help pay for home improvements, your child's college tuition bill, or maybe take your long overdue dream vacation.  Whatever your goal, Liberty Lending can help you get there sooner with less obstacles. 

And the good news is, if you've had your current mortgage for a number of years and/or have a mortgage whose interest rate is higher, you may be able to refinance without increasing your monthly payment!

Yet still another reason you may want to cash out some equity is to consolidate other debt?  If you have sufficient equity in your home to make this work, paying off other debts with higher interest rates can possibly save you hundreds of dollars per month.  Such debts would include credit cards, home equity loans, car loans, some student loans, etc.

3.)  Do you want to build up home equity more quickly, and pay off your home mortgage sooner?

Another option that you may consider would be refinancing with a shorter-term home loan, such as a 15-year mortgage. Of course, your payments may be higher than it would be with a longer-term (30 year) loan, but in exchange, you will pay substantially less interest and will build up equity more quickly.

For example:  Let's say several years ago you took out a $150,000 30-year mortgage at eight percent. Your payment is about $1,100, exclusing taxes, insurance, etc.  If your balance today is only $130,000, you might take out a 15-year mortgage at six percent and have an almost identical monthly payment.

This is a great option for clients whose main goal is not really to save money on their monthly payment but rather build up equity and pay off their St Louis home loans and refinancing loans more quickly.

(All important reasons to come in and see your mortgage professional today.  Fill in our safe and confidential short form below to start your lending process!)