Refinancing your home at Lake of the Ozarks has many advantages but some homeowners are unsure of the right timing to refi. From getting cash out to bettering your loan terms, it is good to know your financial options. Our team of mortgage lenders in Lake Ozark, MO is here to point out reasons why now may be the right time for you and your financial future!
When you want to reduce your long term costs.
There are expenses that are likely wrapped into your mortgage. Depending on what you have left in terms of your current mortgage, there may be some ways to cut out unnecessary expenses from your loan to reduce long term costs.
When you want to pay off a high interest debt.
If you have major high interest debt with interest rates that outweigh the current mortgage rates, it may be a good decision to refinance to consolidate your debt into one mortgage payment to minimize money spent on higher interest.
When you have a major purchase on the horizon.
Whether it is college tuition for your kiddo or you have your eye on a new vehicle, use the equity you have built to finance your upcoming expense. You have worked hard to build your equity and a refinance grants you financial flexibility.
When you want to update your home.
Home upgrades can make your space function better for you and your family. Home remodels and updates come at a high price tag. You can use money from a refinance to reinvest in your home to increase function and potentially increase overall value.
When you want to plan for retirement.
Refinancing your home gives you options to shorten the length of your mortgage term. You have the ability to shorten your term, potentially setting you up for a mortgage-free retirement, depending on how near you are to retirement.
There are many scenarios in which refinancing your home at Lake of the Ozarks is the right financial move. Team Lasson is here for all of your refinancing needs! If you are ready to explore your refi options, give us a call at (573) 746-7211 or visit our website at www.yourlakeloan.com to get started!
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