If you're a retired senior, or planning retirement in the near future, you may want to evaluate your current home loan mortgage. You may find that refinancing a home mortgage with a better rate will help with your future planning and financial needs. Refinancing your home mortgage can help lower your payment, and ultimately save you money over time. If you have the option to refinance, especially if your home is underwater, give us a call today to discuss your options. Depending on your retirement plan and current financial situation, you may want to consider refinancing while you're still employed. Lenders will check your credit history, credit score and proof of income. Since your income will likely decrease once you leave the workforce, it's a good idea to evaluate your options now, rather than later. If you're planning to retire 10 or 15 years down the road, refinancing your current home mortgage loan into a shorter term may leave you debt-free during your golden years. A shorter loan term means long-term savings, but the option also means higher monthly payments. In the end, you're paying less in interest and more toward the principal of the loan.
If you're getting your finances in order before retirement, consider retirement financial planning by refinancing with American Financing. It's a great way to ensure you enter the golden years with your home loan financed at historically low rates.