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McLean Mortgage Corporation

Refinancing Can Help You Achieve Your Financial Goals

Getting Started

Reasons for Refinancing

After becoming a homeowner, there are several reasons why you would opt to refinance.

Changes in interest rates
The economy
Financial goals
Life events

All might create a need to explore refinancing.

Your home should help you meet your goals today and well into the future. Refinancing can make that a reality.

Because of our experience and local roots, McLean Mortgage is in the ideal position to provide you with a variety of choices by advising you regarding the best direction to take when making this all-important financial decision.

Should You Refinance Your Mortgage?

Deciding to refinance calls for the consideration of many variables. The term, loan amount, closing costs, rate, and the type of Mortgage can all be a factor in making the right decision. By working closely with your trusted mortgage advisor, you will discover if refinancing is right for you. 

What Are Some Common Reasons For Refinancing?

Lower Monthly Payment

When market rates are lower than the current rate on your mortgage, refinancing may translate into substantial monthly savings. Please consult your Mortgage Advisor to explore options that fit your financial needs.

Build Up Equity

McLean Mortgage can present options that will allow you to pay off a mortgage in 20, 15, or even 10 years, and these options are typically offered at lower rates than a 30-year mortgage.

Obtain Cash

The equity in your home can also be used for purposes other than consolidating debts. You might use the equity to fund a retirement plan, purchase an investment property, or pay for a wedding or college.

Safety From Adjustables

With an adjustable-rate mortgage (ARM), there is a risk of rising payments after rates adjust. Refinancing at the end of this period allows you to benefit from the adjustable rates you had and return to the safety of a fixed rate.

End Costly Mortgage Insurance

A combination of home appreciation & paying down your mortgage over time can put you in a position to eliminate your monthly mortgage insurance payment.

Consolidate Debts

With sufficient equity in your home, it may be possible to consolidate debts and significantly lower your total payments. Sometimes portions of these savings may be applied to shorten the term of the new mortgage.

Is It Time for a Home Checkup?

You know that having regular medical checkups is essential for your long-term health, but did you know that a regular mortgage checkup can help you achieve your long-term financial fitness goals as well?

Take advantage of low-interest rates to increase your cash flow - before rates move up, and the opportunity is gone.

Convert an adjustable-rate mortgage to a stable fixed-rate loan.

Use today’s low rates to build up equity in your home more quickly with terms ranging from 10-20 years.

Use the equity in your home to increase cash flow by consolidating debts or undertaking renovation projects that will enhance your home’s value.

Consolidate a first and second lien to save money and simplify your home financing.

Use the value of your home to reduce the costly mortgage insurance payments.

Have questions about the mortgage approval process? Read all about each stage of the process, as well as get valuable do’s and don’ts …

couple looking over home options

Mortgage Check-up

At McLean Mortgage, we are dedicated to guiding you so that you can make the right decision about refinancing your mortgage.

That is why we offer a FREE Mortgage Analysis from a trusted advisor who will help you:

  • Determine if you would benefit from refinancing and
  • Explore options that can help you achieve the maximum benefits.

If you have a financial advisor, we will work with them to make sure this new mortgage fits into your overall financial plan so you can achieve your long-term financial goals more efficiently.

Get Started

Learn more about each stage of the mortgage process, and contact a trusted Mortgage Advisor today to start building equity and security.

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