You can save thousands of dollars with even a slight decrease in your mortgage rate—as little as half to three quarters of a percentage point can make a significant difference! With mortgage rates still at historic lows, Paramount Equity Mortgage® can help you take advantage of these rates to lower your monthly payments and maximize savings.
Benefits: save in the short-term
- When you lower your interest rate, you see an instant savings in your monthly payment
- If you lengthen the term of your loan, you can save on your monthly expenses. Refinancing from a 15-year mortgage to 30-year mortgage will spread out your payments and decrease the amount due each month.
- Using an interest-only home loan will allow you the flexibility of paying only the interest due in certain months, while paying as much toward the principal as you would like along the way.
Benefits: save in the long-term
- If you reduce the length of your mortgage from a 30-year mortgage to a 15-year mortgage, your monthly payment will be higher, but you can save thousands of dollars in the long-term.
Contact one of our Mortgage Specialists to learn more about how you can lower your mortgage payments with a refinance.