SecurityNational Mortgage Company (SNMC), and its loan officers, are not liable for information, claims or agreements made by/between the public and third-party entities. These third-party entities may include, but are not limited to: builders, developers, or real estate agents. Even though the loan officer co-sponsoring this site makes efforts to update the information contained, much of it is provided by independent vendors and data feeds, and thus, this site may contain errors, outdated information or purchase conditions, promotions, incentives and/or possible omissions. SNMC cannot guarantee the accuracy of information provided, and we encourage buyers to complete their own due diligence in making a decision to build or purchase a home. We also suggest that you seek the professional representation/advice of a licensed Realtor®, as well as any other licensed professional that is appropriate to your purchase decision, including, but not limited to: attorney, accountant, or certified financial planner. Visitors to this site are responsible for the use and decisions made regarding the purchase of a home with regards to the information contained herein. SNMC is an Equal Housing Lender.

Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant's eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant. SecurityNational Mortgage Co. is an Equal Opportunity Lender.

NMLS# 211127 Branch# 137802  I  Co. NMLS# 3116

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Refinance Your Mortgage

If you can improve your interest rate by at least two percentage points, then it is a good time to refinance. While that may work as a general rule, the truth is that there are many reasons to refinance.

5 Reasons to Refi

Lower Your Interest Rate

This can make a big difference in your monthly out-of-pocket costs for housing and save money on financing fees.

Build Equity Faster

If you are in a position to make higher monthly payments due to an increase in salary or other good fortune, you may want to switch from a 30-year loan program to a 15- or 20-year loan structure. This enables you to build equity faster and save money on financing fees.

Change Your Loan Program

Some homeowners who start out in an adjustable rate mortgage (ARM) find that they would like to switch to the stability of a fixed rate mortgage. A loan comparison chart can help you find out if you can save money with another type of loan program.

Take Advantage of Improved Credit Score

If your credit score has improved as a result of making your mortgage payments on time and in full, you may be in a position to take advantage of your improved credit standing. We can review your current credit score, the terms of your existing mortgage, and review options for other loan programs that could not only reduce your monthly payment, but also save you money on interest fees paid over the life of the loan.

Use the Equity You’ve Established

A cash-out refinance allows you to tap into the equity you have built up in your home. You may want to pay off debt, send a child to college, or use the money for home improvements. And, if you are currently paying for mortgage insurance and your loan-to-value has decreased, you may qualify for a loan without mortgage insurance.

Lower Your Payment

Wondering if there’s a way to lower your monthly mortgage payment and reduce your monthly out-of-pocket expenses? The good news is that there isn’t just one way. There are several factors that can help.

Improved credit score

If your credit score has improved as a result of making your mortgage payments on time and in full, you may be in a position to take advantage of your improved credit standing. We can review your current credit score, the terms of your existing mortgage, and review options for other loan programs that could not only reduce your monthly payment, but also save you money on interest fees paid over the life of the loan.

New loan program

We can provide you with loan comparison charts to find out if you can save money with another type of loan program that might work better for you right now.

Lower interest rate

Securing a lower interest rate can make a big difference in your monthly out-of-pocket costs for housing and save money on financing fees over the life of the loan.

Debt Consolidation

If you’ve been feeling overwhelmed by your monthly expenses—or finding yourself just scraping by each month—refinancing your home may be a great solution for you.

Benefits of debt consolidation
  • Consolidating your debt into a refinanced mortgage offers several benefits.

  • First, you can get rid of high interest charges you may be facing on credit card accounts.

  • Second, you can save time and money by only having to make one payment each month.

  • Third, you can consider increasing contributions to your retirement account or your rainy day fund (and even tackling that home improvement project you’ve been meaning to do!).

It’s important to make smart decisions with the money you will save each month. There are many ways you can make your home’s equity work for you.

Cash Out

If you already have substantial equity in your home, you can access it through a “cash-out refinance” mortgage.

What is home equity? Home equity is the difference between your home’s fair market value and the total balance of any liens or mortgages on your home. Think of it as your ownership interest in your home.

Home equity accumulates in four ways:

  1. Money committed in the original down-payment

  2. Appreciation in the local housing market over time

  3. Physical improvements or renovations to the home

  4. Principal payments on the mortgage itself

Through these four avenues, cash value—or equity—steadily builds up in the property.

Putting your equity to work for you

The good news is that the cash in your home doesn’t have to stay “buried.” If you’ve been thinking about paying off credit card debt, saving money for your children’s college, making home improvements, or adding to your retirement fund, you can put your equity to work for you.

In addition, if an unforeseen expense arises—or your employment situation changes—your home’s equity can help.