If your mortgage is not backed by the FHA or the VA, you most likely have a conventional mortgage loan. A conventional loan is one that is not insured by any government administration, and they are generally split between conforming and non-conforming. Although you do have the option to refinance your loan into an FHA or VA backed loan, you will have greater flexibility with a conventional mortgage refinance.
New Jersey Conventional mortgage refinance will help lower your monthly expenses by changing your current mortgage rates. With conventional mortgage loans, interest rates are usually lower than with an FHA loan. Refinancing an NJ conventional mortgage means extending the lifetime of the loan, and having an overall lower monthly cost.
New Jersey Conventional Mortgage Refinancing means that you will pay insurance on the loan for a lesser amount of time than with an FHA loan, saving you valuable cash. With a conventional loan, mortgage lenders are usually more likely to negotiate their fees, allowing greater flexibility in terms of your specific mortgage loan needs. Overall, refinancing your NJ conventional mortgage loan will allow you to borrow a greater amount of money – freeing up the extra cash to put into other areas of expense.
Cornerstone Mortgage Group is proud to be a New Jersey Conventional Mortgage Refinance Lender. If you are interested in finding out the current NJ Conventional Mortgage refinance rates, please let us provide you with a quick and accurate quote on what a Conventional refinance can offer your unique situation. As local NJ mortgage lenders, we have several home loan programs available to fit each individual’s unique needs, and can help you into the mortgage loan, and home, of your dreams.
