:: IV Alliance Mortgage: For all your mortgage needs!

Whether you're looking to refinance your home, consolidate your debt, do some home improvement, purchase a house, pay for medical bills or other large expenses, IV Alliance Mortgage is here to provide the right solution for you. Our professional team is assisting homeowners with all types of financial situations. Whether you have excellent credit or less than perfect credit, we’ll help you refinancing, consolidating debt, or financing some of your large expenses.

:: What is refinancing?

When you refinance your home, you are paying off your current mortgage loan with a new loan that is overall more favorable to you. Refinancing can save you a substantial amount of money over the course of the loan by allowing you to take advantage of better terms or rates. You can also refinance to replace a fixed-rate mortgage for an adjustable rate mortgage, or vice-versa.

:: The benefits of refinancing

Refinancing can be a good idea if you want to:

    * lower your monthly payments.
   Refinancing allows you to get out of a high interest rate loan to take advantage of lower rates thus lowering your monthly payments.

   Extending the life of your mortgage is also another way to lower your payments.

   Even with a small difference in rates, refinancing can save you a substantial amount of money each month.

     * enjoy the convenience of one low monthly payment.
   Refinancing allows you to consolidate all of your bills into one low monthly payment - saving significantly on interest charges and late fees.

    * build up equity more quickly.
   Converting to a mortgage with a shorter term will enable you to significantly lower your total interest costs because you are paying off the loan sooner. Besides, your monthly payments may not increase at all depending on your initial rate.


    * draw on the equity built up in your house.
    You could use your home equity to free up some cash and pay for a major purchase or for other major expenses such as medical bills, home improvement etc...

    * select a different adjustable rate mortgage.
   If your current adjustable loan doesn't provide you with a cap feature, it might be interesting to switch to one that does. This cap allows you to set a limit on the amount your interest rate or monthly payment can increase. Such a loan gives you confidence in knowing that you won't have any unpleasant surprises in a given month.

     * switch from a fixed rate to an adjustable rate.
   This option can be ideal if you are planning on staying in your home for another year or two. An adjustable rate can be beneficial as the rates rise if you have a payment cap.

   Switching to an adjustable rate can also make your payments smaller, providing you with short-term savings. Moreover, your ARM could be less expensive over the long term than a fixed-rate mortgage if, for example, interest rates remain steady or decrease.

    * s witch from an adjustable rate to a fixed rate.
   The advantage of fixed rates is that you know exactly what your mortgage payment will be for the life of the loan. With an adjustable-rate mortgage, rates may start to raise, increasing your payments. A fixed-rate mortgage will provide you with peace of mind and steady monthly payments.

   It's also beneficial if the interest rate is low. You can lock into a great rate and save even more money. For example, if you plan to remain in your house for the long-term, and the rates are favorable, refinancing with a long-term, fixed-rate mortgage (at 15, 20 or 30 years) can save you significant money over the life of your mortgage.

:: Is now the best time to refinance?

Now is a good time to save money by taking advantage of low interest rates. American households are increasingly relying on refinancing to improve their financial situation. There are many benefits to refinancing, but in order to determine if it makes sense for you, we will analyze your current financial situation and your plans for the future. You can rely on IV Alliance Mortgage's experience and expertise to find the perfect loan for you.

:: Things to consider when refinancing.

Do a break-even analysis.
We will weigh the benefits and drawbacks of refinancing by figuring out how much we can save you each month.

Provide us with documents in a timely manner.
In order for your loan to get approved and funded quickly, you should have all of your paperwork ready to go at the appropriate times.

Be sure to read all documents.
Try to allow yourself time to read over everything before your closing, so you are prepared to ask any questions or raise any concerns.

Avoid using the county tax assessor's value as the market value of your home.
Mortgage companies don't use this, so why should you? Most lenders base your home's market value on many variables, including the value of other homes in your area. This will usually give you a higher appraisal value than the county tax assessor's.

Never feel intimidated by the whole process.
Ask questions if you're unsure of what's occurring. We will walk you through the entire loan process from start to finish.

:: Should you refinance your ARM?

* Is the next interest rate adjustment on your existing loan likely to increase your monthly payments substantially? Will the new interest rate be two or three percentage points higher than the prevailing rates being offered for either fixed-rate loans or other ARMs?

* If the current mortgage sets a cap on your monthly payments, are those payments large enough to pay off your loan by the end of the original term? Will refinancing to a new ARM or a fixed-rate loan enable you to pay your loan in full by the end of the term?

:: How can IV Alliance Mortgage help you?

One of IV Alliance Mortgage's loan officer can help you with a variety of refinancing options and terms, so you can have a customized solution that makes sense for you. IV Alliance can help you find better terms today. Find out how. A 10-minute call with one of our loan officers can get you on your way.

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