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.
Mortgage Options Funding is a California Burea of Real Estate, Real Estate Broker(CAL BRE). License ID 01209114. CAL BRE Public information line 1-877-373-4542. Mortgage Options Funding MLO NMLS ID 1366467. Ramzy Sabbara NMLS ID # 3485. Equal Housing 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.