When you refinance with Nutter, we can make your dreams a reality without the hassle of multiple loans. The simplicity of a Nutter Home Loan allows you to maintain one low, monthly mortgage payment and more benefits to pay for (or pay off) what you need. The most common reasons to refinance are to lower your monthly payment, take cash out or changing your loan term.
Refinancing a home used to be considered a one-time event, one which homeowners only pursued when they had decided to live in their house for the rest of their lives. But that rule of thumb has changed completely in recent years. The cost of refinancing a home (also known as closing costs) has dropped dramatically along with interest rates. At the same time, property values have increased in many parts of the country. As a result, homeowners have taken advantage of these favorable conditions and refinanced their mortgage multiple times.
In addition, you can access the equity in your home to pay off your high interest rate debts such as credit cards, pay school expenses, obtain cash to renovate your home, or even use your home equity to help lay the foundation for a secure retirement. This type of home refinance is known as a Cash-Out Refinance and can also be used to get rid of a risky Home Equity Line of Credit (HELOC).