Is It Time to Refinance? How to Use Your Home Equity to Your Advantage
Why Refinance Now? Are you carrying high-interest debt or looking to lower your monthly mortgage payments?
A refinance loan could be the financial reset you need!
Whether you’re looking to cash out equity, lower your rate, or reduce your term, refinancing can be a game-changer for your financial future.
As a mortgage broker with access to wholesale rates, I’ll help you explore the smartest refinance options so you can put more money back in your pocket! ________________________________________
Types of Refinance Loans & Their Benefits:
🔹 Cash-Out Refinance – Turn Home Equity into Cash
- Pay off high-interest credit cards & loans
- Use funds for home renovations, investments, or emergencies
- Refinance up to 80% of your home’s value (Conventional) or 90%+ (FHA & VA)
🔹 Rate & Term Refinance – Lower Your Rate & Monthly Payment
- Secure a better interest rate if market rates have dropped
- Reduce your loan term from 30 to 15 years and save on interest
- Remove private mortgage insurance (PMI) if you’ve built enough equity
🔹 Debt Consolidation Refinance – Roll Multiple Debts into One Low Monthly Payment
- Combine credit cards, personal loans, and auto loans into your mortgage
- Reduce your monthly expenses by hundreds
- Mortgage interest may be tax-deductible (consult a tax professional)
How to Qualify for a Refinance Loan
1. Check Your Credit Score
- 620+ for Conventional Refinance
- 580+ for FHA or VA Streamline Refinance
2. Assess Your Home Equity
- Most lenders require at least 20% equity for cash-out refinances
- No equity? FHA & VA Streamline options available
3. Verify Income & Debt-to-Income (DTI) Ratio
- Lenders prefer a DTI below 50% for most refinance options
- Self-employed? Bank statement loan options available!
4. Lock in Your Rate & Close the Loan
- Mortgage rates fluctuate, so acting quickly can secure the best deal!
Why Middle Tennessee Homeowners Are Refinancing Now
Home values are at record highs – Tap into your equity while it’s strong!
Consolidate high-interest debt – Credit card rates are soaring!
Lower payments & free up cash flow – More money for what matters most!
If you’re a homeowner in Middle Tennessee, refinancing could be the smartest move you make this year!
Get a Free Refinance Review Today!
I specialize in helping homeowners unlock their home’s equity & lower their mortgage payments.
Call (615) 364-5700 to see if refinancing is right for you.
Visit https://theburkslendinggroup.com/ to apply online!
Let’s put your home’s equity to work starting today!