Refinancing Your Home Loan in Illinois

There are many reasons to consider when refinancing is right for you. Weigh
your options and make sure you feel completely comfortable with your decision.

Homeowners can choose to access the equity in their homes by receiving cash
for; home improvements, paying for college tuition, investments, consolidating
credit card debt, buying a new car, or any other high-cost purchases.

If your considering a divorce and would need to settle with your ex-spouse the
equity in your home can help with that financial decision.



Shortening the term from a 30 year to a 25, 20, or 15 year amortization loan will
give you a huge equity building position because more of your principal
payment goes toward buying down your balance, compared to a 30 year
amortization, right from the first payment.

You can literally save tens to hundreds of thousands of dollars over the life of
the loan by shortening your mortgage term and planning your retirement goals.

Even if you're a long way off from retirement or have enough of other assets,
why put all that money in someone else's pocket?...put it back into yours!




When interest rates drop taking advantage of a lower payment can help you
with more cash flow monthly for paying other debt or simple investing or saving
the difference you normally would make on the higher rate loan.

I know easier said than done but if your were comfortable with the older
payment and your new refinance payment is less...make that work for you!

Depending on what your goals are and how long you plan on living in your home
for your options are: a no closing cost, no out-of-pocket cost refinance or you
can opt to bring your costs to closing.  




  • ARM adjusting out of fixed period
  • Eliminating PMI (Mortgage Insurance)
  • Qualifying out of a Jumbo loan interest rate
  • Consolidating Piggy Back loan/2nd Mortgage used for purchase into one
    loan
  • Removing Escrow Payments
  • Debt Consolidation


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Benchmark Mortgage | 1750 E. Golf Rd., Suite 310 | Schaumburg. IL 60173
Illinois Residential Mortgage Licensee   
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Reducing Term With A Refinance
Planning For Interest Rate Drops
More Reasons To Consider If Refinancing Can Benefit You