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Refinance or Reverse
Reverse Mortgage or Refinance?
Which is better for me?
Timing is everything when you are dealing with either of these loans. People
may end up with less cash in hand from jumping into either of these loans
uninformed.
The key to maximizing your benefits from either solution is to know when
the time is right.
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Refinancing is ideal for people who secured a loan when
interest rates were high. Often the money saved in the new interest rate
can be fairly significant. When Refinancing the "trick" is to catch the
loan market when it is at its lowest.
would be impossible to pinpoint the lowest possible day and time to refinance
a loan. Also, if you're like most of our clients you have other things in
your life that demand most of your attention, making it that much harder
to remember you need to Refinance.
Reverse Mortgages are intended for people over the age of 62 who either
own their current home outright or are very close to having it paid off.
Unlike a Refinance a Reverse Mortgage "unwinds" the built up equity in your
home, actually paying you to live there!
No two situations are exactly the same. Our loan officers can help analyze
your situation and show you which option is the right fit for you. Contact
your local Regent Financial Branch today to discuss the benefits of either
Refinancing or a Reverse Mortgage for your and your family. You'll be glad
you did!
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