If retirement is in your near future, it may be a good time to refinance your home. Let us help you find the loan option that will suit your future living situation. Lengthen your term: Refinancing into a longer loan term will reduce your monthly payments and increase your retirement cash flow. Lower your rate: By obtaining a lower interest rate through refinance, you can free up money that would otherwise go toward your monthly payments. This will increase your spending money in other financial areas. Reverse Mortgage: A Reverse Mortgage refinance loan can provide you with as little as a zero monthly mortgage payment while still maintaining home ownership during retirement. With a Reverse Mortgage, you can gain access to the equity in your home. A reduction or complete elimination of your monthly payment will also assist with your cash flow. Depending upon your age, the equity available in your home, and other applicable factors, a reverse mortgage may be a smart option. Talk with one of our Loan Officers to understand how a Reverse Mortgage can be most beneficial.
Properly investing your money can immensely improve the quality of your retirement. It is important to begin early reviewing and assessing your individual goals. Create a plan of action and begin to feel more confident moving forward. By making successful investment decisions early on, you have the ability to earn a return by the time you reach retirement. Refinancing your mortgage into a lower monthly payment today may allow you to save more money for your future retirement fund. It is never too early to start preparing for retirement. Let us start you off right.