Top 5 Reasons Why Homeowners Are Afraid to Refinance
Refinancing to lower your monthly mortgage payment, get cash or to pay off your mortgage sooner are all very appealing prospects. So what is it that makes homeowners afraid when it comes to refinancing? At Accunet we call this “Refiphobia,” and if this condition affects you, you’re in luck because we’re the mortgage doctors with the cure.
Here are our top five reasons why homeowners are afraid to refinance, and how there’s nothing to be afraid of when you pursue it with Accunet Mortgage.
Rates aren’t low enough
– We hear it all the time, but many clients are hesitant to refinance unless they’re getting their rate lowered by at least 1%. This may have been true years ago, but that doesn’t even include the appraisal, closing, title and other junk fees that other lenders add on. With Accunet, you can throw that 1% rule out the window, because no closing cost option will be what saves you money in 2017.
1. It’s too much of a hassle and too much paperwork
– We’ve heard our clients loud and clear on this one, which is why Accunet has made it easier for clients with our online e-sign. Now there’s no more paperwork to clutter up your life; you’ll often only need a W2 and a paystub. And with Accunet, you’ll save thousands of dollars in closing costs compared to leading online lenders
2. I don’t want to go back to a 30-year mortgage
– It makes sense that you’ve been paying your mortgage for several years now, and you don’t want to start over. Well, that’s not a problem. At Accunet we offer any number of years between 10-30 to accommodate your situation.
3. It costs too much
– Many lenders charge origination, processing and other paper-shuffling fees that can inflate your loan balance, but at Accunet we don’t charge for any of those, potentially saving you thousands of dollars in the process.
4. I’m afraid my home won’t appraise up
– It’s possible that you won’t even need an appraisal but, even if you do, we have the depth and resources to discuss several scenarios at different prices depending on where you home might appraise.
We understand that some of our clients have concerns when it comes to refinancing, but when you go with a trusted lender like Accunet Mortgage, you have nothing to fear and everything to gain through our numerous refinance options.
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