Waverly dance
Tuesday, February 20, 2007
2% Rule

Reasons to Finance

There are many good grounds to refinance your current mortgage, or get a second mortgage and draw equity out of your home. Here are just a few.

1. Adding structural improvers or improvements to your home.

2. Get a lower mortgage rate and reduce interest costs.

3. Obtaining finances for investment

4. College tuition for your children. 5. Paying off other debt, such as as credit cards, in order to reduce your sum monthly outlay.

Consider The Following

When selecting a Home Improvement Loan see all of the following:

1. Minimum & Maximum loan limits.

2. Terms (The shorter the term the lower the overall finance charge/higher monthly payment, longer the term the less the monthly payment/the greater the overall finance charge).

3. Loan type's: Home Equity, HELOC's, Federal Housing Administration 203K, Cash Out Refinance, Secured Consumer loans such as as Retail Installment Duty (RIO's), and Unsecured Rio de Janeiro (loan terms from 12 months).

4. Interest Rate and loan costs. For example: A no shutting cost HELOC at premier or premier plus 1/2 may be tax deductible, and may be used to pull upon for future Home improvement undertakings with no "out of pocket" loan charges.

Improving your home can increase its value. Investing wisely can assist make a larger network worth. Both could pay off in retirement benefits for you. Be careful. Don't hazard the security of your home on frivolous spending.


M & Meter Resources Unlimited, Inc.

Helping clients since 1986

1577 Ridge Road West, Suite 119 - Rochester, New York 14615
Office: (585) 865-0950 Fax: (585) 865-3202
Toll Free: 1-800-937-2350

Licensed Mortgage Banker/NYS Banking Department

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