REFINANCE PROGRAMS

Refinance your current mortgage at low fixed interest rate. You'll save every month

Home Refinance Loans are designed to reduce your monthly mortgage payments. With current low interest rates, refinancing your existing mortgage will allow you to keep more money in your own pocket.

Why Refinance?

There has never been a better time to refinance your present mortgage or mortgages. Interest rates are lower then they have been in years!

A Basic Definition:
Mortgage refinancing is simply the process of taking out a new loan to replace an existing loan(s).

• Significantly reduce your monthly mortgage payments, putting more money in your pocket each month.
  
• Lock you into a lower fixed rate.  
  
• Obtain CASH from the new refinance loan to be used for almost any purpose! Commonly referred to as a "refinance and cash out" loan .
  
• Accelerate repayment of the debt, reducing the amount of interest paid over the life of the loan.
  
• Combine your 1st and 2nd mortgage into one payment.
  
• If you currently have an ARM, avoid another rate adjustment, lock into a lower fixed rate that will never go up!
  
• Clear tax liens.
  
• Save your home from foreclosure.  
  
• Pay a large balloon payment that might be coming up.
  

Homeowners refinance for many reasons but your personal objectives are very important in the type of refinancing you undertake.

Here are some of the more common objectives to refinance your home:

1. Obtain a lower interest rate and monthly payment, leaving more money in your pocket each month.
   
2. Combine the first mortgage and subordinate mortgages into a single mortgage payment, reducing the payment and the number of bills you need to pay on each month.
   
3. Consolidate other debts into a new mortgage which will decrease your monthly payments and increase the amount of interest deductible on your taxes.
   
4. Lengthen or shorten the term of your loan to correspond to your personal goals.
   
5. Reduce your monthly payment and apply the savings to faster loan repayment.
   
6. Take advantage of a lower interest rate and at the same time receive extra cash.

Even if you have been turned down before, or think you will not qualify, Royal Consultants may be able to help!

• Fixed or adjustable rates.
• Conventional and FHA refinance programs and rates are available.
• Stated income refinance loan programs.
• Non-owner occupied and rental properties.
• And Many Other Options!