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Refinance  | Competitive Mortgage : Wauwatosa, WI

Often, homeowners in Milwaukee want to know if they should refinance their mortgage and if it is worth it. How can you tell if it would be a sound decision in your situation?

When you look to change your loan terms, you pay off the old one and get a new one, paying off the same kind of costs like settlement and discount points as before. The total amount you would need to pay would depend on the points and the interest rate, as well as the fees for the attorneys.

We can advertise having the lowest price due to the methods we take to lower the overall cost. We offer several discount points so that the total cost can be as little as 3 percent of how much you borrow. Other lenders can remove these points but it would mean a higher rate overall, meaning the payments are higher overall, which makes our method the best one to grab for refinance options.

The amount that you can save by refinancing your mortgage depends on the cost to undergo the process, whether you decide to sell your home later on and how much it will affect your taxes. It is best to not refinance your mortgage unless you are going to save at least 2 percent on your current mortgage.

You may also be required to pay the costs of settlement at the closing, which include the credit check, title search, loan application fees, transfer taxes, recordation fees, attorney services, appraisal and loan origination. Contact us today to learn the exact list of charges that would need to be paid in order to get a new rate on your mortgage.

If you decide to get a low interest change to your mortgage, you will not be able to have as much deducted on a tax returns, which can either reduce your savings from a tax return or increase how much you must pay each year for a tax payment. You may also be required to pay an additional cost in order to cover the cost of processing the loan application filed when you make an application.

Fortunately, you do not need to make a new application with the same lender who gave you your loan. This means that if you received your mortgage from someone else, we can still handle refinancing your mortgage to offer you a competitive rate that you cannot refuse.