The Benefits of Refinancing Your Mortgage
Refinancing can lower your monthly payments, reduce your interest rate, and allow you to obtain cash from your equity, if you choose to cash some of it out. Your equity value fluctuates with the housing market, so it’s important that you protect it by knowing when it's time to cash it out.
Cashing Out Your Equity Can Help you...
Save For College
Refinancing your mortgage can make college more attainable. There’s no doubt about it: with education costs and college tuition costs on the rise, there’s no getting around the fact that you have to save for your kids’ college educations in order to be able to afford it and give them bright futures. Protect your home’s equity, save money and pay for your child’s education at the same time by refinancing your home with NLC Loans.
Invest in Your Retirement
Locking in lower monthly mortgage payments this year make it easier to put more money away for your golden years. Retirement planning often involves evaluating investments, and one of the biggest investments is right in front of you: your home. Your home’s equity is an excellent tool to utilize to help you build up that nest egg without feeling the pinch.
Consolidate Debt
Living with crushing debt isn’t just holding you down: it’s unhealthy too. If high-interest credit card debt has you feeling stressed, listen up: your home’s equity can save you. Refinance your mortgage with NLC Loans and use the cash to pay off your credit card debt and put yourself and your family in a better situation today.
Plan For Emergencies
Are you prepared for a financial emergency? What would you do if you lost your income unexpectedly? For many, selling their home is the only way they’d be able to make ends meet. Protect your family by using your home’s equity to create an emergency fund that will act as necessary protection in the event of a personal catastrophe, such as job loss or major illness.
As a result of refinancing, your total finance charges may be greater over the life of the loan. Ask your NLC Loans Personal Mortgage Advisor for more details.
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