Mortgage Refinance in Michigan
Are there ways in which your current mortgage could better serve your needs? It could be time for a refinance. MMS can help you refinance your home loan so that it is a more suitable fit for your financial needs.
Reasons to Refinance
Your Home Loan
Here are some reasons why borrowers refinance their home loans:
- To reduce their mortgage rates.
- To change interest rate formats.
- To extend the time to pay off their home loans.
- To change to a mortgage that does not require PMI or MIP.
- To renegotiate other terms.
Signs It Might Be Time to Refinance
Every scenario is unique. So, to help you figure out whether it is the right time to refinance your home loan, we would need to speak with you in a consultation.
But any of the following signs might mean that the time is right:
You have had an increase in your credit score, a decrease in your debt-to-income ratio, or another improvement in your risk profile.
You plan to stay longer in your home than when you took out your loan, or you plan to leave sooner.
You want to lower your monthly payments.
Your equity has increased, allowing you to potentially drop PMI or MIP with a new mortgage type.
You are consolidating debts such as high interest credit revolving credit card debt to a low interest rate and more affordable payment on your home mortgage loan.
Those are just examples. They may or may not be applicable to you. There are also other situations where a refinance might be wise.
Refinance Your Home
Loan Now
The best way to find out whether a refinance may benefit you and your family is to schedule a consultation. To get started, please call (248) 788-0800 or toll free at (800) 945-4506 then press 2.
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Underwriting Approved Certificate This new program is the highest level of approval a buyer/borrower can obtain without yet choosing a property. Our experienced Loan Officer will open a loan file, assign a loan number, take the application, gather the buyers’ income documents, bank/investment statements and credit report, submit the file for automated underwriting and have a live underwriter approve the loan subject to title and appraisal if required at all.
You cannot get more approved than “Underwriting Approved!” This lets the Seller’s Agent/Broker know the buyer is the real deal and is “Underwriting Approved.”
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MMS Mortgage Services, Ltd. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines. This material has not been reviewed, approved or issued by HUD, FHA or any government agency. MMS Mortgage Services, Ltd. is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.