There are many excellent benefits to refinancing. Although it used to be advised to refinance only when rates dropped a certain percentage, there are currently many excellent programs which make now a great time to capitalize. In response to the question: “If, how, and when can I benefit from a refinance?” Pinnacle has outlined some ways you could profit. Our Web site also includes a refinance calculator to offer quantitative results.

1. Switch mortgage programs – As your needs and finances change, it only makes sense that your mortgage program follows suit. Whatever your situation, you may want to investigate other programs that will parallel life changes. Together you and a Pinnacle Mortgage Consultant can analyze your financial profile and determine which program is best for your needs and goals. For more program details check out our list of program options.
   
   

2. Consolidate debt – If you dream of relief from high interest rates, collection calls or you just can’t remember what life was like without debt, Pinnacle can help you get back to financial soundness. Using the equity you have accrued, you may soon be able to lower your monthly payments, reduce your interest rate, and eliminate collections calls. A no-obligation, free consultation can determine how much, how quickly, and how simply you can return to debt-free bliss. Determine just how much you can save by utilizing our refinance return calculator.
   
   

3. Lower your interest rate – In decades past, it was suggested to refinance only when interest rates fell more than two percent. Even with many other motives, falling interest rates still interests most consumers. If interest rates are what interest you, sign up for our rate watch. This innovative tool emails you the rates as they rise and fall. You stay up to date with the latest rates to assist in determining when refinancing makes the most sense. When rates fall to a desirable percentage, a Pinnacle mortgage consultant can lock your rate quickly to assure the best possible outcome.
   
   

4. Lower your monthly payment – many details factor into your monthly payment. It is not only the rate that determines a payment, but also the program chosen. To determine the best possible option for your unique situation, a Pinnacle mortgage consultant can create several scenarios. It is our goal to provide the best possible program and rate to uphold your best financial interest and save you the most money.
   
   

5. Eliminate private mortgage insurance (PMI) – Many times PMI is required for those who borrow more than eighty percent of a property’s value. If you are paying PMI, but have paid the principle down to eighty percent or lower it is time to call a Pinnacle mortgage consultant to refigure your loan. Paying down the loan to this amount eliminates the need for PMI which becomes one less cost for you to incur. Contact a Mortgage Consultant to see how a Pinnacle refinance can save you money.
   
   

6. Build equity and save interest costs –Many new options are now available to assist homeowners in paying off their mortgage early. Not only can Pinnacle offer a shorter term amortization, but also Pinnacle is one of very few licensed to offer the Home Ownership Accelerator program. This state-of-the-art program is designed to help homeowners pay off their home loan early without changes to their spending habits. It can save customers thousands in interest costs while helping pay off their loan in a fraction of the time. To learn more about this and other programs designed to help you accomplish your short- and long-term financial goals, take a look at all of our program options.
   
   

7. Convert an adjustable to a fixed rate – If you see that your once low adjustable rate mortgage (ARM) is about to adjust to a much higher industry standard, it may be time to look into refinancing into a more stable fixed rate. Learn more about which one may be right for you. To see just how much you can save with a fixed rate complete our fixed rate calculator.

Although Pinnacle’s Web site is a great source of information and our calculators great tools to measure profitability, the most accurate instrument at your disposal is one of Pinnacle’s trained mortgage consultants who can analyze your situation and help you take advantage of opportunities. Contact one of our trained professionals today to take one step closer to achieving your financial goals.