Mortgage Refinance
in Fort Lauderdale

Solve your Mortgage Worries with a Mortgage Refinance in Fort Lauderdale

Refinancing a home mortgage is not an easy decision to make for many homeowners. It involves paying off whatever remains of the previous existing loan and then replacing it with a new one. There are many things to consider when you do want to get refinanced. However, refinancing is an easy way to solve some of the worries with a mortgage. It allows you to get a lower monthly rate, which makes sense as you’ll have to pay less over time. It can also present some other financial opportunities in the future.

At Florida State Mortgage Group, we have the expertise to help you find a refinancing solution that works for you. With careful evaluation of your current mortgage and other mortgage needs, we will find a refinancing option that will save your money and save you mortgage troubles in the future.

What is mortgage refinancing, and why do people get it?

In simple terms, mortgage refinancing is a way for borrowers to get a loan to pay off another one. Homeowners get mortgage refinancing to lower their monthly payments on previous loans or shorten its length. For instance, a borrower with a 30-year mortgage plan might get refinanced to lower it to 15 years.

Based on the refinancing option one chooses, the benefits can vary. Borrowers might consider getting a mortgage refinance in Fort Lauderdale to:

Cash out equity

Refinancing can be used to take advantage of the equity you have built in your home. It also gives you the leeway to use the money to make some improvements to your house.

Lower monthlypayments

Obtaining a lower interest rate or extending the term of your loan is possible with mortgage refinancing in Fort Lauderdale. The lower interest rate means your payments will be smaller.

Debt consolidation

With refinancing mortgage, you can make your debt more manageable. High-interest loans can be replaced with a low-interest one.

Dropping private mortgage insurance

Based on the equity you are able to cash out from refinancing your mortgage, you can drop private mortgage insurance.

How much does refinancing cost?

How much does refinancing cost?

The closing cost of refinancing a mortgage is between 1% and 2% of the total amount of the loan. This also includes lender fees. You can pay this cost upfront with cash or pay with points.

Points or discount points allow borrowers to lower the interest they’ll get on the refinancing loan. You can pay 1% of the total loan amount upfront and lower the rate by 1/8%.

Is an excellent credit score necessary for mortgage refinancing in Fort Lauderdale?

Is an excellent credit score necessary for mortgage refinancing in Fort Lauderdale?

Not necessarily. It’s true that a good credit score makes it easier to get a better interest rate. Having a less than perfect credit score can be considered. However, you will have to lower the interest rate to make the refinance worth it.

What Our Clients Are Saying

Lana Mihova
Lana Mihova
16:22 13 Feb 20
Stephen McWilliam was an amazing person to deal with. Our deal was pretty complicated on all aspects and he was so professional, he got it done !!! Thank you so much for all the hard work you put into this deal!!!
Brian Mosher
Brian Mosher
15:02 13 Jan 20
Steve did a wonderful job securing a mortgage for me based on the parameters I gave and seeing everything through to completion. No hiccups for me along the way in a process that can be very painful if not managed well.
Shannon Dameron
Shannon Dameron
01:34 12 Jan 20
Steve and the team at Florida State Mortgage Group are exceptional. I was looking for a townhouse for my family when Steve and his team were referred to me. Florida State Mortgage Group showed me I could easily afford a single family home. Steve handled everything from providing a list of homes, securing the home loan, insurance options and closing. I’ve referred Florida State Mortgage Group to friends and family. Each person has experienced the same level of knowledge and quality of service. 5 STARS
Florida Guy
Florida Guy
19:08 11 Jan 20
I was very pleased with Steve and the ease of the process. No hiccups or surprises. Highly recommended for mortgage services.
Peter Brines
Peter Brines
02:27 07 Dec 19
It was a real pleasure working with Steve. Extremely knowledgeable and professional. Would recommend this company all day long.
Olga Alderson
Olga Alderson
01:02 05 Dec 19
Steve McWilliam was a tremendous help in securing my mortgage a few years ago. He\'s also been a great source of knowledge in the time since. I highly recommend him as someone you can trust.
elizabeth mcbride
elizabeth mcbride
01:16 21 Oct 19
The smartest, most helpful and insightful mortgage loan person I’ve ever used. On our first attempt to buy he saved us from disaster. On our second attempt he was finished and ready to close before everyone else! Our loan was a VA so we expected it to take extra time...nope. For our next loan we won’t use anyone else.

Talk to One of Our Loan Officers to Help Evaluate your Eligibility to Qualify for a Mortgage Refinance in Fort Lauderdale

Call us today at 954-359-3000 or click the button below to get started.

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