If you’ve lived in your current home for a number of years and taken good care of it, you likely have a ton of untapped equity. To release your cash for other purposes you generally can get a home equity loan or find a Mt. Pleasant refinance specialist. There are times when refinancing your home makes the most sense. The primary reason is to get rid of an existing mortgage that has a higher rate then you are currently paying. Generally when the spread is more than 1 percent, it will make sense to refinance.
Why bother to refinance? If your house is anywhere in Charleston County and you’ve owned it for more than a few years. Property values in Mt. Pleasant, West Ashley and James Island have more than doubled in the past 5 years. If you live anywhere near the ocean in Isle of Palms, Sullivan’s Island, etc. the increase can be even higher. You can use the value of your house to improve your house by refinancing. You can also pay for college or any other major expense.
If you live in Mt. Pleasant or Charleston, they are many refinance mortgage lenders that will be willing to help you refinance your present home. We have provided a list of the mortgage lender in Mt. Pleasant that specializes in refinancing. |
• Interest Only Mortgage
• Adjustable Rate Mortgage
• 30 year Conventional Fixed-Rate Mortgage
• 15 year Conventional Fixed-Rate Mortgage
What is right for you? Check with a local Mt. Pleasant mortgage lender or Mt. Pleasant refinance specialist and they will help guide you. There are many refinance lenders in Mt. Pleasant. Talk to several over the phone before you pick one. Also, determine how much upfront or out of pocket expense there will be to refinance your Mt. Pleasant home. If your needs are small and temporary then a better solution might be a home equity loan rather than a full refinancing. Also, if there an urgent need for the fund, often a home equity loan can be complete in a week or two while refinancing is much longer process. A Mt. Pleasant refinance person should also be able to help you with that as well. |
