Change Course And Refinance


Old Point Mortgage is here to help, so take a moment to check out the reasons and considerations to determine if refinancing is right for you!

Here are the 5 most common reasons to refinance your home:

  1. To reduce your monthly payments or interest rate; reach a number that is more manageable.
  2. To consolidate your outstanding debt by combining two mortgage loans into one new mortgage.
  3. To pay off your mortgage quicker by switching from a long-term loan to a short-term loan.
  4. To pay off existing debt or pay for a big expense such as college.
  5. To get out of a current mortgage plan that you don’t like – going from a fixed rate mortgage to an adjustable rate mortgage (ARM), for example.

Is refinancing right for you? Here are a few things to consider:

  1. What is your home worth and how much do you owe?
    With the answers to these questions, you and your loan officer can find a loan that fits.
  2. How will this improve your current financial situation?
    You and your loan officer can reshape your current mortgage situation in an effort to lower monthly payments.
  3. How will this help you achieve your long term goals?
    We offer loans specifically tailored to your needs so that together with your loan officer, you can discuss an overall financial plan that can help with your long term goals.