Heather Stavinoha
Residential Mortgage Loan Originator
NMLS 308886

Direct: 713.744.1225
Fax: 866.422.2691
HeatherS@cmplending.com
TeamCMP@cmplending.com

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Prequalify

REFINANCE

The majority of mortgage loan applications over the past several years have been for refinancing due to historically low interest rates. People refinance for a variety of reasons including changing from an adjustable-rate to a fixed-rate mortgage, shortening or lengthening the term of the loan, home renovations, getting a loan with better terms and debt consolidation.

While refinancing can make a significant difference in the amount you pay each month, there are othercosts you should consider. Plus, your finance charges may be higher over life of the loan. However, refinancing a mortgage is similar to when you applied for your loan initially. You must have a relatively good credit score, pay closing costs and fees, and may even have a cursory home inspection. So you need to be sure that it will really be worthwhile and do plenty of research. Focus on long-term costs and benefits based on the equity in your home, the terms of the new and existing loans, and the break-even point at which you will recover your costs.

Is refinancing right for you? Contact Cornerstone to find out!