Refinance

Is a refinance right for you?
There are several reasons why you might want to refinance your mortgage:
Lower interest rates: One of the most common reasons people refinance their mortgage is to take advantage of lower interest rates. If interest rates have dropped since you took out your original mortgage, refinancing at a lower rate could save you a significant amount of money over the life of your loan.
Lower monthly payments: Refinancing to a lower interest rate can also lower your monthly mortgage payments. This can help you save money each month or allow you to afford a higher-priced home.
Shorten or lengthen the loan term: Refinancing also gives you the opportunity to shorten or lengthen your loan term. If you want to pay off your mortgage faster, you can refinance to a shorter term. Alternatively, if you need to lower your monthly payments, you can refinance to a longer term.
Cash-out refinance: You can also refinance your mortgage to take cash out of your home's equity. This can be used to pay for home improvements, consolidate debt, or cover other expenses.
Change from an adjustable-rate to a fixed-rate mortgage: If you have an adjustable-rate mortgage (ARM), you may want to refinance to a fixed-rate mortgage to lock in a stable interest rate and avoid future rate hikes.
It's important to note that refinancing your mortgage may involve additional fees and costs, so it's important to carefully weigh the potential benefits and drawbacks before making a decision.
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Frequently asked questions

How much can I borrow?
The amount that you can borrow for a mortgage refinance will depend on several factors, including the value of your home, your credit score, your income, your debts, and the type of mortgage you are looking to refinance into.
Lenders typically have their own specific criteria for determining how much they will lend to a borrower for a mortgage refinance, but a general rule of thumb is that you may be able to borrow up to 80% of your home's appraised value.
To get a more accurate idea of how much you may be able to borrow, you should speak with your Belleair Mortgage representative who can assess your financial situation and provide you with more specific information. They will take into account your credit score, your current mortgage terms, and your financial goals to help determine how much you can borrow for a refinance.
How do I know which mortgage is the best fit?
The best mortgage for a refinance will depend on your individual financial situation and goals. Here are some factors to consider when selecting a mortgage for a refinance:
Interest rates: Compare the interest rates of different mortgage options. A lower interest rate can result in lower monthly payments and long-term savings.
Loan term: Decide if you want to refinance into a shorter or longer loan term. A shorter loan term may come with a higher monthly payment but result in long-term savings, while a longer loan term may lower your monthly payments but increase your overall interest costs.
Closing costs: Consider the closing costs associated with each mortgage option. Refinancing can come with fees such as appraisal, title search, and loan origination fees. It's important to factor in these costs when comparing mortgage options.
Type of mortgage: Consider the type of mortgage you want to refinance into. For example, you may want to switch from an adjustable-rate mortgage to a fixed-rate mortgage, or vice versa.
Ultimately, the best mortgage for your refinance will depend on your specific financial situation and goals. It's important to weigh the benefits and drawbacks of each option carefully before making a decision.
How can you help me get a mortgage?
It's easy to get started! Simply click the secure link below:
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Home Refinance Process

01.
Contact your Belleair Mortgage representative to see what refinance option is best for you.
02.
Complete the application documents and submit.
03.
Receive a "Clear to Close" from the lender.
04.
Receive a closing disclosure and close the loan.

Speak to an expert mortgage adviser today Give us a call at (727) 228-0460

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When applying for a mortgage, the company should provide you with a fair housing disclosure that explains your rights under the Fair Housing Act, which is a federal law that prohibits discrimination in the sale, rental, and financing of housing based on the aforementioned protected classes. The disclosure may also provide information about how the company will comply with fair housing laws and regulations.
It is important to review the fair housing disclosure carefully and to ask any questions you may have. If you feel that you have been discriminated against by a mortgage company, you may file a complaint with the U.S. Department of Housing and Urban Development or with your state's fair housing agency. Belleair Mortgage, LLC 2023. All rights reserved. NMLS#2084331