About Homes & Land of Howard and Carroll Counties: Homes & Land of Howard and Carroll Counties is a comprehensive real estate guide, covering Baltimore, MD and surrounding areas. Home buyers and sellers can search Baltimore homes for sale, as well as find land, lots, condos and other property for sale. If you are planning to sell or buy a home in Baltimore, you can find and contact Baltimore real estate professionals, broker offices, mortgage lenders and other real estate service providers. We also provide community and neighborhood information for Baltimore. Baltimore area REALTORS®, real estate professionals and brokers can advertise their listings on Homes & Land of Howard and Carroll Counties, and also get a personal website.
Search Assistant
Search for Real Estate for Sale...




Area Resources
Real Estate Services

Our Community

Articles & Tips

Whatever your Real Estate needs or interest, we have information that can help! View Articles


For Advertisers

Current advertisers login here.

To learn more about advertising in this magazine, click here.


About This Magazine


Order a Magazine

Information for Advertisers

Loans: Refinance Now to Avoid your ARM rate Increase...
 
Loans: Refinance Now to Avoid your ARM rate Increase...
ARA Content

(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market.

Here are four great things a mortgage refinance can do for you:

* Lower your monthly payment

Simply exchanging a higher interest rate for a lower one will reduce your monthly mortgage payment. But you may also be able to lower your payment by changing from one type of loan to another.

Moving from a fixed rate to an adjustable rate may put more cash in your pocket each month, but it works best if you know you'll move before the initial rate ends.

* Stabilize your mortgage rate

If you already have an adjustable rate mortgage and your initial interest rate period is about to end, you can refinance to a fixed-rate that may save you money over time. The interest rate on an adjustable-rate mortgage can keep climbing. A fixed-rate loan takes the guesswork out of budgeting.

* Put cash in your pocket

You can get funds by doing a cash-out refinancing, where you can draw on your home's equity by borrowing more than you currently owe. It can be cheaper than taking a home equity loan or second mortgage, which generally carry higher interest rates.

* Make your debt more manageable

If you have enough equity in your home to cover your other debts, refinancing to get the cash may work to your advantage. It may reduce your total monthly payments and the larger mortgage may be tax deductible, an advantage not available with credit cards. To make this plan work, you'll naturally need to refrain from running up credit card debt again.

It's important to define your needs and your abilities before refinancing. Once you know what they are, it will be easy to find the Best refinance mortgage deal for you.

Begin by getting matched with the best lenders at NationalHomeSavings.com. Ask each lender about a mortgage refinancing and what they can do to meet your needs.

NationalHomeSavings.com has been helping people across the country find the best mortgage loans, refinancing rates, and home equity loans across the nation since 2003. Click here to learn how the service can work for you.

Copyright © 2007, ARAcontent