Recent changes in the market conditions make mortgage refinancing in Atlanta an attractive option for many homeowners. During mortgage refinancing, a new mortgage is obtained in order to reduce monthly payments. In addition, mortgage refinancing could result in a lower interest rate, which can allow homeowners to build equity on the home quickly.
In Atlanta, the median home value is $206,800.* Refinancing a $200,000 loan even at 1% lower could potentially result in savings as great as $40,000 throughout the life of the loan. Your Loan Originator will advise you of the potential savings and advantages of your unique refinancing options in Atlanta.
When choosing Atlanta refinancing, the borrower pays off an existing loan and takes out a new one. Homeowners with a credit score above 580 may achieve potential savings through refinancing and debt consolidation if they plan to stay in their current home for at least 2-3 years. In addition to financial savings, there are other benefits to mortgage refinancing.
- Homeowners with improved credit may be able to refinance at a lower rate than that of the original purchase.
- Changing the loan type from an ARM (Adjustable Rate Mortgage) to a Fixed-Rate or vice-versa.
- Changing the length of the loan can help pay off the loan more quickly, or reduce the payments if the terms are extended.
- Avoid paying PMI if the home has appreciated in value.
American Equity Mortgage in Atlanta serves surrounding Georgia metro areas that include, but are not limited to: Vinnings, Sandy Springs, Chamblee, North Atlanta, North Druid Hills, Decatur, Candler-McAfee, Panthersville, Hapeville, and East Point.
Discover today if mortgage refinance in Atlanta is right for you. Take a moment to fill out an application or call to speak with an experienced Loan Originator today. American Equity Mortgage helps those in Atlanta and throughout Georgia Get To A Better Place.
Information accurate as of 3/31/2017
By refinancing your existing loan, your total finance charges may be higher over the life of a loan.