Refinancing
Unlock the potential of your home equity and discover how refinancing can lower your monthly payments and save you money over time.
Let's light your path to financial stability.
As a homeowner, you likely already know all of the ins and outs of your mortgage. Between monthly payments, escrow, insurance, and more, there are a lot of numbers flying around. But did you know that by refinancing your home, you could actually be saving money in the long run? Let Luminate Home Loans guide you through the process and see if refinancing is right for you.
How Refinancing Your Home Can Help
If you’ve owned your home for a few years and have equity on the mortgage, you’re in good shape to refinance. Why? Because when you have equity—which is the value of your home minus what you owe on the house—you can use that to shuffle around your finances to better suit your needs. Here are just a few ways refinancing your home can help.
Lower Your Interest Rate
Did you purchase your home at a higher interest rate? If interest rates are lower now, you may be able to refinance and lower how much you owe over the long term. You could save thousands of dollars with a lower interest rate!
Shorten the Length of Your Mortgage
If you purchased your home with a 30-year mortgage, that’s okay and completely normal! But refinancing your home with its equity can sometimes shorten the length of time it will take to pay off your home and save you money in the long run.
Cash Out for Home Improvements
Has your roof been needing repairs? Or maybe you’ve been wanting to save up funds to put in a deck? No matter the project, refinancing can allow you to take out cash from your equity and use it for various home improvements.
Consolidate Your Debt
Student loans? Credit cards? Car payments? If any or all of these sound familiar, you’ll be excited to know that you may be able to consolidate that debt into your mortgage, paying less in interest, and making your monthly payments much easier to manage.
Still unsure what options will work for you?
That’s okay—because our team is here to help guide you every step of the way. We don’t want you to feel left out in the dark, but instead to have complete clarity and transparency throughout your entire loan process.
Here at Luminate Home Loans, we truly believe in our mission and core values. We focus on people like you because we understand that character does count. We stay humble and work hard so that the lending process stays approachable and transparent every step of the way.
Your new home is waiting. Let's get you in there.
We’ve been helping people like you achieve their homeownership dreams for over 25 years.
This is a loan production office of Luminate Bank.
Hours:
Monday to Friday
8:30am to 5pm
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