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latest news and information from First South Financial
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| Is refinancing your mortgage right for you?
There can be many events that happen that can make someone consider refinancing a mortgage - a change in market rates, a significant life event, or a need for major home renovations. Depending upon your circumstances, this may be a great option for you. However, there are some things to consider before moving forward.
1. Your current mortgage loan
Knowing where you are is great place to start. What is your current interest rate? How long is your term? What kind of loan are you in - fixed-rate, adjustable-rate, balloon, etc.? How many years do you have left on your current mortgage? The answers to these questions can help shed a lot of light on whether or not refinancing is a good option for you at this time.
2. Your reason for refinancing
What do you hope to gain from refinancing your mortgage? Lowering your interest rate? Lowering your monthly payment? Getting cash out of your home to pay for renovations or other expenses? All of these? A discussion about your goals will help point you in the right direction as far as the type of loan that may work best for you.
3. How refinancing your mortgage fits into your overall financial goals
If getting out of debt quickly is your plan, then a shorter term mortgage with a higher payment could take up financial resources that could be used to pay down higher-rate debt. If you're close to retirement, then coordinating paying off your mortgage to free up your cash post-retirement may be a smart move.
Here at First South Financial our mortgage lenders will take their extensive knowledge and experience and put it to work for you. They can help you discover the right mortgage option for you. To discuss your mortgage lending options, contact us at 901.380.7530 or at mortgages@firstsouth.com today. |
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Christy Heckler, CRPC® Financial Advisor
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Work With Someone
You Trust
Contact us today for a no-cost,
no-obligation appointment.
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FR-1973139.1-1217-0120
Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. †CRPC® is a registered service mark of the College for Financial Planning®
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Phishing. Email Scams. Identify Theft.If you have questions, we have a resources page on our web site that will help you get the answers you need to keep you safe when you're online.
This page has information from reliable sources on a variety of topics, plus links on resources that can help you avoid becoming a victim of online fraud. It's just one more way we're here to help you.
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Our privacy policy has not changed and you may review our policy and practices with respect to your personal information at www.firstsouth.com or we will mail/email you a free copy upon request if you call us at 901.380.7400 or email us at mail@firstsouth.com.
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The information contained in this email (the “Content”) is provided for informational and educational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Content is not intended to be and does not constitute financial, investment, tax or accounting advice or a solicitation to buy or sell securities. The Content is necessarily general in nature and is not specific to you or anyone else. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX OR ACCOUNTING ADVISORS BEFORE IMPLEMENTING ANY ADVICE INCLUDED IN THE CONTENT. By viewing or utilizing the Content, you agree that you will not hold Marquis Software Solutions, Inc., First South Financial or their affiliates or agents responsible for loss or damages resulting from the Content.
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