There are a number of reasons to delve into home refinancing, one of which is to get funds for your family’s future. So when it comes time to find the home mortgage solution that is right for your Akron, Ohio family, you want to enlist the help of a company that can find the right program to suit your needs. And there’s no better business to contact than Signature Mortgage Corporation in Canton, Ohio. The refinancing experts at Signature Mortgage Corporation have helped countless homeowners from Cleveland, Ohio to Detroit, Michigan choose the best option for them based on the current refinance rates. So, why not take the time to find out why others opt to refinance their homes and how Signature Mortgage Corporation helped them along the way?

Lowering your rate and payment is just one of many great reasons to consider refinancing your loan. Have you thought about converting your current adjustable rate into a fixed rate loan? How about pulling cash out of your equity to remodel your bathroom or kitchen? With attractive rates and loan programs, now may be the best time to make a move.

Source: Signature Mortgage Corporation

If you’re on the fence about whether or not home refinancing is right for you, you’ll be pleased to learn that there are numerous reasons as to how such an investment can help you and your Akron area family.

1. Lower your rate and payment.

This is one of the most common reasons that homeowners refinance. If your current interest rate is higher than what is currently available in the market, it is probably a good idea to see how much you could save by refinancing. There are no-cost and low-cost options that could save you money with little to no cash out of your pocket.

2. Convert your adjustable rate into a fixed rate

Adjustable rate mortgage (ARM) loans are a great way to ease into your mortgage payments, especially if you are a first time buyer or if you need lower payments initially. Eventually, if you decide you will stay in your home longer, you may want to consider refinancing that adjustable into a long term fixed rate loan. Doing so will give you peace of mind, knowing that your rate and payment will not change for the life of your loan.

3. Convert your interest-only loan into a fully-amortized loan.

Like ARMs, interest-only loans are a great way to minimize your mortgage payments at the beginning; however, because you are not paying any principal, your loan balance does not decrease. If you plan to keep your home long term, you probably want to start paying off your loan

4. Convert your 30 year loan to a variable rate.

Sometimes plans change and the home (and loan) that you thought you were going to have for awhile turns from a permanent situation into a temporary one. If you are planning to sell your home sooner than you thought and no longer need a long-term rate, then you may consider converting your 30 year fixed to either an ARM or a 3/1, 5/1, or 7/1 loan program, which often have lower rates and payments.

5. Take cash out to consolidate your debt.

Leveraging the equity in your home is one of the smartest ways you can make your money work for you. Use the cash from your home to pay off higher interest, non tax-deductible credit cards, student loans, or medical bills. By consolidating your debts, you can enjoy the benefit of having only one payment each month, and in most cases your overall monthly cash flow improves.

6. Take cash out for home improvements.

What better way to use your hard earned equity than to invest it back into your home with repairs or home improvements? Whether you would like to fix your leaky roof or update your kitchen, you can tap into your home’s equity and have a tax deductible* way to tackle your projects.

7. Take cash out to purchase investment property.

With home prices and interest rates at the lowest they’ve been in years, if you’ve been thinking about buying a vacation home or an investment property, now may be a great time to take action. Tap into your home’s equity and use the cash for your down payment, home improvements, or for any reason at all.

8. Remove mortgage insurance.

If you purchased your home with less than 20% down, chances are you’re paying private mortgage insurance (pmi). Refinancing will help you eliminate the extra expense if you’ve paid down your loan balance and/or have seen an increase in your home’s value to a point where you have at least 20% equity in your home, or a loan-to-value (LTV) of 80% or less.

Source: Signature Mortgage Corporation

Now that you’ve learned a little more about why you should consider home refinancing, you’re probably thinking about the next step—how. Fortunately for you, there’s Signature Mortgage Corporation. Homeowners from Cleveland to Detroit have contacted the refinancing experts at Signature Mortgage Corporation, and have been extremely satisfied with the results. That’s because this Canton company thinks first and foremost about you, the homeowner. Signature Mortgage Corporation’s experienced staff works with you to find the home mortgage solution that best fits your budget and future expenses, so you can feel confident that you are getting advice based on your individual needs—not the needs of your mortgage banker.

Unlike other mortgage companies out there, Signature Mortgage Corporation does not push home mortgage solutions that would benefit them the most. In fact, they have a strict policy ensuring that their refinancing experts find the home refinancing option that is best for the client. After looking at the current refinance rates and analyzing your family’s income and expenses, the professional mortgage banker assigned to your case will have a better idea as to which program will be the most advantageous to you.

To learn more about the benefits of home refinancing for your Akron, Ohio area home, visit www.smcinc500.com. Signature Mortgage Corporation’s comprehensive website lists the current refinance rates, as well as testimonials from Cleveland, Ohio and Detroit, Michigan clients who have benefited from Signature Mortgage Corporation’s home mortgage solutions. To talk to a refinancing expert about how you can begin the process, give Signature Mortgage Corporation a call at 800.241.1996.

Signature Mortgage Corporation
4790 Douglas Circle NW
Canton, Ohio
800.241.1996