Low Rate Home Equity Loans – Refinancing for a Shorter Term and Better Rate
Looking for a better rate is a common reason people choose to refinance
their home equity loan. But did you know that shortening your loan term
can save you more money than reducing rates? Combine the two and you
will save yourself thousands in interest costs and trim years off your
payment schedule.
Top Recommended Companies To Refinance With:
(updated ):
Act Now! Lower your monthly mortgage payment!
- Competitive rates and no hidden fees
- Bad Credit OK
- New Purchases, Home Equity & Refinance
- One dedicated mortgage banker from first call to closing
- Quick Application with worthwhile results
If you are looking for a mortgage loan but have "less than perfect credit" this company has options for people with credit problems. Complete a short form and get one dedicated mortgage banker from first call to closing with a simple, straightforward process.
Mortgage rates are still low. Refinance & Lower Your Payment!
- Get Started on a Lower Payment Now!
- America's #1 Online Lender
- Save More and Spend Less!
- No Obligation and Free Expert Advice Another Great "bad-credit" Mortgage Company! QuickenLoans is also a competitive mortgage company for people with all types of credit including poor credit. Refinance or get new mortgage offers from this reputable Web based mortgage lender.
Why Time Matters
While most people focus on comparing rates when looking at loans, they
should be equally concerned about the length of the loan. The longer
you pay interest on your home equity loan, the higher your interest
costs, even with a low rate.
For instance, take a look at a $30,000 home equity loan. Its interest
at 6% for 10 years equals costs $9967.43. Interest for a 5 year loan for
the same amount but at 7% is just $5642.12 – saving you over $4000.
With some companies, you can also qualify for lower rates by choosing a
shorter loan period. Adjustable rates can also reduce your rates, but
with the chance that your loan term may be extended.
Rates Still Matter And So Do Lenders
There are a number of costs to consider when looking to refinance your
current second mortgage. Interest, closing costs, and annual fees can
all add up to thousands. That’s why it is so important to investigate
different lenders before settling on a loan.
By looking at loan quotes, you can truly find the cheapest loan for
your situation. Loan quotes also give you the opportunity to fiddle with
loan terms without hurting your credit score. So with real numbers you
can decide whether you want a fixed or adjustable rate, 5 or 30 year
term, or a cash out option.
Make sure that you look at a number of lenders before signing a loan
contract. Take a look at the lesser known companies, which often offer
better rates to remain competitive. Recommended companies and broker
sites are also a good option.
Consumers have more power today to find the best financing by going
online. Reading informative websites, looking at instant loan quotes, and
asking questions gives you the answers you need to make the right
refinancing choice.
Our Recommended Home Equity Lenders:
Top Recommended Companies To Refinance With:
(updated ):
Act Now! Lower your monthly mortgage payment!
- Competitive rates and no hidden fees
- Bad Credit OK
- New Purchases, Home Equity & Refinance
- One dedicated mortgage banker from first call to closing
- Quick Application with worthwhile results
If you are looking for a mortgage loan but have "less than perfect credit" this company has options for people with credit problems. Complete a short form and get one dedicated mortgage banker from first call to closing with a simple, straightforward process.
Mortgage rates are still low. Refinance & Lower Your Payment!
- Get Started on a Lower Payment Now!
- America's #1 Online Lender
- Save More and Spend Less!
- No Obligation and Free Expert Advice Another Great "bad-credit" Mortgage Company! QuickenLoans is also a competitive mortgage company for people with all types of credit including poor credit. Refinance or get new mortgage offers from this reputable Web based mortgage lender.
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