Elizabeth, If you’ve selected a lower interest rate with the same loan term as your current loan, it’s easy to see the savings right away. But, if you've selected a loan term
that's shorter than your current loan, it's possible to have a new payment that's higher. However, as long as the interest rate is lower and the loan amount is
similar, you can still save big on interest. There are other potential benefits from refinancing such as accessing cash for home improvements or other major expenses
such as college tuition. Please reach out if you have questions or would like to go over the prospect of refinancing for any reason in greater detail.
Greenway Mortgage Funding Corp, NMLS#374480, 107 Tindall Rd, Middletown, NJ 07748. Licensed by the NJ Department of Banking and Insurance.CT Licensed Mortgage Correspondent Lender. Licensed Mortgage Banker NYS Dept. of Financial Services. For complete licensing information go to www.nmlsconsumeraccess.org. All offers subject to credit approval. Rates, terms and conditions subject to change. For information purposes only, not an offer to extend credit (Sec 12 CFR 1026.2 Reg Z). Equal Opportunity Lender.
The resources here are for educational purposes only. The information or results provided do not constitute an advertisement, estimate nor offer to lend. When included, interest rates and other default values shown may be adjusted by the user and as such, do not reflect actual rates or returns applicable to a specific scenario, or available at any given time. For an official quote, qualification or estimate including current rates, fees and APR (annual percentage rate), please reach out using the contact information provided.