Are Interest Rates Lower When Refinancing a Home Loan?

February 20, 2019

When you’re planning on refinancing your home loan, there may be plenty of questions you want answered before making any financial decisions. Does refinancing really cut down on your monthly payments? Does the interest rate stay the same?

MaxCash is here to cover exactly what refinancing a home loan could do for you, and how you could get started on the process.

Refinancing Step 1: Getting Started Online

The first step you’ll need to take when refinancing your home loan is to visit the MaxCash website and navigate to the inquiry webpage.

The inquiry form will ask you to provide some personal information, such as:

  • Your Home Address – To help you find a lender in your area, we ask customers to provide a home address. Lenders will also need to determine the nature of the home to better assess the loan value.
  • An Estimate of Your Monthly Income – Your monthly income is an important detail necessary for any loan inquiry. Your estimated income gives lenders an idea of how much you’ll be able to afford each month so they may better personalize your monthly payment amount.
  • Your Contact Information – During the process of tracking down a lender to refinance your home loan, we will need to contact you. Providing MaxCash with your name, email, and phone number, allows for a smooth process.
  • Information on Your Past Loan – This is generally the most important part of the form you’ll be filling out. Your lender will need to know the statistics of your prior loan, including the terms, interest, etc. When refinancing, the details of the loan change to better help the borrower.

Once you’ve finished inputting the information above, go ahead and submit your inquiry for a refinanced home loan.

Refinancing Step 2: Tracking Down the Right Home Loan Refinance Lenders

Once your information is received and verified, MaxCash can begin the process of tracking down a lender for you. MaxCash’s ingenious referral system does all the hard research work for you, making the home loan refinance process a breeze.

MaxCash will start the process by using your location. They have access to a nationwide list of lenders, but they’ll narrow down the search to lenders in your area. Lenders will be presented with your prior loan’s information and asked if they’d like to work with you. Those that are interested will continue on with MaxCash into the next step.

Refinancing Step 3: Negotiation for an Affordable Home Loan Refinance

When you’re making any large financial move, at some point, you’ll need to be doing some negotiating regarding the terms of the deal. Arguing for better deals is important, but if you’re not skilled at negotiating financial matters, you can end up paying way more than necessary. That’s why it’s so great that you have the experts at MaxCash on your side.

Knowledgeable MaxCash agents will haggle with lenders by making a case on your behalf. They ask for better terms, lower rates, and lower monthly payments. MaxCash is financially savvy, and they know which questions to ask in order to acquire important information.

MaxCash will end up narrowing the results down to just one ideal lender after speaking with numerous lenders and comparing offers.

Refinancing Step 4: Home Loan Refinance Confirmation

With your ideal home loan refinance lender found, it’s time to move onto the last step and get in contact with the direct lender. Usually, you can accomplish this in one of two ways: either you can speak with the lender directly over the phone, or over the internet via email. Either method allows you to get to the last part of the process: final negotiations.

There you’ll discuss the nitty-gritty final details of the loan, notably including the method by which you can swap funds. There are three main methods by which this can occur, those being an in-person meeting, an exchange via mail, or an online transaction via various online money transfer websites. Each method accomplishes the same goal: receiving your funds.

So long as you stick to your repayment plan, you’ll be all finished with the home loan refinancing process. It’s just that simple! So simple, in fact, that you can contact MaxCash right now to get started on your refinanced home loan!

DISCLAIMER:
The MaxCash website does not offer or provide loans, but rather, it offers a service. It should not be construed as a lending agent or broker. The site does not endorse any lenders and does not charge visitors any fees. The website owners do not evaluate potential lenders’ applications, nor do they approve or deny credit. The MaxCash website does gather applicants’ personal information and transmits it to lenders that are part of the site’s lending network. No one is required to make use of this website, nor are they under any obligation to begin contact with site operators or to attempt to secure a loan with any of the site’s lending partners. Transmission of your financial and personal information on the website in no way obligates lenders to offer you a loan or any other kind of credit product. Be aware that cash transfer times can vary, depending on the lender and the bank you use. It may be necessary to fax information under certain circumstances. All questions about loans, and any concerns you may have should be directed to your lender. These loans are intended as short-term financial solution to satisfy borrowers’ needs for immediate monetary relief. This is not intended to be part of a long-term financial plan for individuals. These services are not offered in all states. Potential borrows may undergo credit check if lenders choose to use any of the major credit reporting bureaus, including Equifax, Trans Union and Experian. They may also use other alternative sources to check credit ratings. Your request for a loan constitutes your agreement and acknowledgement that (A) your personal data may be shared with lenders and perhaps other third-party partners, and (B) lenders can acquire credit bureau reports that detail your credit history. Reports from major credit bureaus, such as Equifax, Experian and TransUnion may be obtained and used to evaluate your reliability as a borrower.

1Loan amounts by the lenders vary based on qualifications.

2Since we do not lend money directly we cannot offer you a solicitation for a loan. In all serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans are not available in all states and all areas.

3Loans such as, Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan. Other types of loans may have pre-payment penalties as well.

4All lenders are responsible for their own interest rates and payment terms. Max Cash has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

5The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you. Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time, in the circumstance for an auto title loan. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically, larger loans or higher risk loans use a GPS.

In some circumstances faxing may be required. Use of your cell phone to receive updates is optional. Please review our privacy policy.

Loans such as Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long-term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

Signature and personal loans are only available in Georgia and Florida. Loan amounts differ at locations. Account approval requires satisfaction of all loan eligibility requirements, including a credit inquiry, and, if applicable, motor vehicle appraisal.

Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

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