Remodel With A Refinance Loan From Countrywide

If you’re looking to remodel your house, a cash-out refinance loan may be just what you need. A cash-out refinance can help you access any available equity in your home and use the cash to finance your home remodel. Key Benefits of a Refinance Loan:	FREE Download – Home Improvement Interactive Workbook
Typically offers lower interest rates than a home equity loan or a home equity line of credit (HELOC) If your finances have improved or interest rates have gone down, you could get a lower interest rate than your original loan

Refinancing Options

	Fixed Rate Mortgages		Adjustable Rate Mortgages (ARMs)		Combination Rate Mortgages
	Reasons to Consider: You like the stability of fixed interest rate and monthly payment You plan to stay in your home for more than 5 years You have a fixed income and this loan type makes budgeting simpler		Reasons to Consider: You want to lower initial monthly payments You plan to keep your loan for a short term, 5 years or less		Reasons to Consider: You want to lower initial payments and avoid the risk of monthly payment fluctuations during a fixed period You plan to stay in your home or keep your loan between 5-10 years
	Call Now! 1-800-909-8217		Call Now! 1-800-909-8217		Call Now! 1-800-909-8217

Remodel with a Refinance Loan using Fixed Rate Mortgages

If you’ve decided to refinance your home and get cash out for home improvement, a fixed rate mortgage is a good option to consider. With a fixed rate mortgage, the monthly payment doesn’t change because the interest rate is fixed for the life of the loan. If you plan to stay in your home for over 5 years and don’t want your monthly payments to fluctuate, a fixed rate mortgage may be a good choice for you – despite the higher upfront fees.

Want to learn more about how a fixed rate mortgage may help provide you with the funds to remodel your house? Call us at 1-800-909-8217 for a FREE, no-obligation consultation.

Remodel with a Refinance Loan using an Adjustable Rate Mortgage

An Adjustable Rate Mortgage (ARM) is another excellent choice for homeowners who want to refinance their home and use the cash out proceeds for a remodeling project. If you’ve decided to undertake a home improvement project, but also anticipate moving within the next 5 years, an ARM might offer savings in the short term – both in upfront fees and monthly payments over a fixed rate mortgage. (Note: again, confirm the upfront fees difference claim)

With an adjustable rate mortgage, the interest rate varies periodically according to the index on which it’s based. Full Spectrum Lending limits how much the interest rate may change each year and over the life of the loan. This means that there’s a cap on how much your mortgage payments can increase each year.

Full Spectrum Lending has a variety of adjustable rate mortgage products – so we have the flexibility to assist a wide array of borrowers to find a loan that’s right for their specific situation. Call us now at 1-800-909-8217 for a FREE, no-obligation consultation.

Remodel with a Refinance Loan using a Combination Rate Mortgage

A combination rate mortgage combines the best features of fixed rate and adjustable rate mortgages. A combination rate mortgage provides the flexibility of fixed monthly payments for a set period of time. After the fixed rate period ends, the interest rate converts to an adjustable rate.

If you want to learn more about a remodel using a combination rate mortgage, call us now at 1-800-909-8217 for a FREE, no-obligation consultation.