Why Refinance Your Investment Property?
Property owners choose to pursue refinancing for a wide variety of reasons. Whatever your motivation may be, J.G. Wentworth’s home loan solutions can help you accomplish your objectives.
Lower Mortgage Payments
Refinancing can potentially lower your monthly mortgage payments by lowering your interest rate or switching to a longer-term loan. Since you first acquired your property, factors like the value of the property and your credit score may have changed. Our mortgage payment calculator can give you a better idea of how refinancing might lower your payments.
f you have accumulated enough equity in your property, you can apply for a cash-out mortgage. With the cash you receive from this refinancing method, you can pay off high-interest loans and consolidate them into a single payment. This option might substantially lower how much interest you have to pay from month to month.
Increase Property Value
Many landlords choose to refinance their rental properties to fund renovations. These owners essentially use the lump sum from a cash-out mortgage to reinvest in their properties. If you take this route, you can potentially enhance your revenue and ultimately increase your property’s eventual resale value.
Fund New Ventures
The funds obtained through cash-out refinancing can also help investors put down payments on new properties. Some of our customers even use refinancing to finance entirely new business pursuits. If you opt for this method of refinancing, you can use the cash however you choose.
Options for Refinancing
J.G. Wentworth offers multiple refinancing options so that you can choose the method that best fits your needs.