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Mortgage Refinance

Why pay more when you could pay less? If you want to discuss your options with a mortgage refinance expert in Indianapolis, GVC Mortgage can help. Contact us today at (317) 564-4906 (Carmel) or (317) 754-4008 (Plainfield) with any questions.

Our experienced professionals offer advice about how to save money and meet other financial goals. Apply with us today, and we’ll contact you to arrange a private consultation. During our meeting, we’ll review your finances and loan options to find the best course of action.

What is Refinancing?

Mortgage refinancing is simply replacing one loan with another, under different terms. Since most mortgages last between 15 and 30 years, your life circumstances are likely to change throughout the course of the loan. Perhaps you received a large promotion and want to repay the lender faster. Or maybe you want to consolidate debt. Either way, refinancing is a viable option. Listed below are some other reasons to modify your mortgage:

  1. Take advantage of a better interest rate. Perhaps mortgage interest rates have dropped significantly since you purchased your home in Indianapolis. Let’s say you’re paying 6% in interest, but the current interest rates are 4%. Refinancing to lock-in at the lower rate could end up saving you a lot of money.
  2. Reduce the terms. If you originally chose a 30-year loan but have recently received a pay raise, you could save money by changing to a 15-year plan and repaying the lender faster.
  3. Reduce payment amount. On the other hand, if your income has decreased, you may want to extend your mortgage term. This allows you to pay a smaller amount of money over a longer period of time.
  4. Take cash out of property equity. If you have a large payment approaching, like a college tuition bill, you may want to consider cash-out refinancing. This financial move increases your loan to more than it was originally (for example, raising it from $160,000 to $180,000). It allows you to reduce your interest rates and keep the extra cash.
  5. Consolidate debt. You can roll other debts into your home mortgage, giving you more time to repay the other debts. Additionally, sometimes you even receive better interest rates.

If you’re considering mortgage refinance options, apply with GVC today. Our professional loan officers have a combined total of over 40 years of experience. They will honestly evaluate whether refinancing or staying with your current arrangement is the right solution for you.

Refinance Your Mortgage Today!

Contact us today at (317) 564-4906 (Carmel) or (317) 754-4008 (Plainfield) with any questions, or refer to our resources page. If you’re trying to buy a house in Indianapolis, Carmel, Fishers, Westfield, Plainfield, or surrounding areas of Central Indiana, we also specialize in finding FHA, conventional, and other types of loans. We look forward to working with you in the future.