Ambient Home Lending

Purchasing a Home

Refinance

Understanding Different Loan Types

What Fees Should I Expect

What Our Clients Say...

Loan FYI-FAQ
What's a refinance and why should I (or shouldn't I)do it?

Refinancing generally refers to a re-conveyance of your first Trust Deed on your home. This means that you move your loan from one loan note to another note (often but not always from one lender to another) for purposes of lowering rates or payments or change in repayment terms. Commonly, while you are re-establishing your note, you also may want to borrow additional money to improve your home, consolidate debt or for some other purpose.

For most home-owners, Refinancing is a big step and should be considered only after having a very hard look at the numbers. Ambient Home Lending not only considers whether or not you might get a better rate, but other factors that effect the performance of your money and your current and/or potential future loan and how it may affect you in the future:

How long have you been paying on your current loan?
What is your current rate?
What rate is necessary and how much time is necessary to recapture the costs of a new loan?
Are you going to be in the home long term?
How close are you to retirement?
Have you had a significant change in your Credit/Employment which may negatively affect your ability to borrow?
How much and what kind of debt can or should you pay off?
If you want cash for other uses, is a refinance of your home the best source for it?

Your situation is going to include other considerations not mentioned here. Ambient Home Lending wants to encourage you to think about your unique situation, write down your specific questions, then call 877-777-9763 to speak with us or email your questions. There is no obligation and you can move forward more comfortable in your decision to refinance.

These are just some of the things you need to consider when contemplating a refinance of your loan. We look forward to having a discussion with you regarding your unique issues. Ambient Home Lending takes great pride in our history which is built on delivery of a complete solution not just a mortgage! While Ambient Home Lending is in the Home Loan business, we will not process an application which ultimately is not in the best interest of our client.

Medford, Oregon