Home loan refinancing means taking out a completely new loan, with a new loan term and interest rate to replace your current mortgage. Mortgage refinancing can have an enormous impact on your financial picture and your credit score.
The primary reason for refinancing a mortgage is to negotiate a loan with a reasonable monthly payment amount and a reasonable rate of interest. Refinancing is a great option if the borrower wants to change the type of loan from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage (fixed-rate loan).
Credit score plays an important role in refinancing. The lender will consider the credit history to determine if the borrower could repay the loan. PierPoint offers different mortgage loans and all those loans can be refinanced if you meet the conditions.
At PierPoint Mortgage, we extend services to help borrowers get different types of loans. And under all those loans, we provide a provision for refinancing your mortgage. The loans include: