Can Refinancing Today Help you Achieve Your Financial Goals? 
"Yes!", says Dawn Ziemba of Bank of America. Dawn was kind enough to write the following guest post for me. Please read on.
Your choice of a home loan is an important one and can help you with both your monthly budget as well as your long-term financial goals. Whether your goal is to obtain financial stability with a fixed monthly payment, improve the cash flow in your budget, pay off your mortgage faster or mange debt, we have options that can help you get there. Let your goals be your guide - consider how certain loan options could help you achieve them.
WHAT IS YOUR GOAL?
- "I'd like a stable monthly payment." A home loan with a fixed rate translates into a predictable payment of principle and interest that doesn't change over the life of the loan. Terms can range from 10 to 30 years; while planning, remember that a shorter-term mortgage typically offers a lower interest rate (although the payment may be higher because of the shorter term) and may allow you to build equity more quickly.
- "I need to free up cash in my monthly budget." Refinancing to a longer term mortgage or securing a lower or fixed rate can reduce your monthly loan payment, allowing for greater monthly cash flow.
- "I'd like to pay off my mortgage faster" Reducing the term of your mortgage, usually from a 30 year mortgage to a 10, 15 or 20 year mortgage, will accelerate your loan payoff. Because this option typically increases your monthly payment, you may build equity in your home more quickly.
- "I want to manage and consolidate other debts." Refinancing with a "cash out" option enables you to borrow against the available equity in your home. The amount you can borrow depends on the equity and value of your home. The interest rates on a cash out refinance can often, but not always, be lower than the interest rate on a home equity loan.
Dawn says "At Bank of America Home Loans we have helped millions of homebuyers with their home lending needs. We would like to help you with yours."
If you or someone you know is considering a home loan, please keep Dawn Ziemba in mind. You can depend on her for clear information, expert guidance and prompt personal service.
Connie Harveyis a local agent with Pilkerton Realtors, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals. She can be reached at 615-371-2474.
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