Integrity Mortgage | Your MaineNevada, Iowa, Massachusetts Mortgage Lender
NMLS #1692497
Welcome to Integrity Mortgage, your trusted Maine mortgage lender company focusing on residential mortgages and refinancing. With years of experience and a dedication to honesty and integrity, we are committed to finding the right mortgage solution for you.
About
Integrity Mortgage, LLC
Experience
Maine Mortgage Lender
Established in 2019
Understand
Your Mortgage Loan Options
Some homeowners decide to refinance their mortgage because it allows them to refresh their loan amount and terms. With a lower interest rate, you can save money over time on your monthly payment.
Apart from this, there are several reasons why people consider changing from an FHA or VA mortgage to conventional loans. These include:
- Equity
FHA loans often burden borrowers with mortgage insurance. However, if you build at least 20% equity in your home, converting to a conventional loan can help you get rid of these insurances.
- Reduction in the loan term
Refinancing allows you to reduce the loan repayment term. So, if your loan term is around 30-years, you can potentially mitigate it to 15-years. This particular way, you can repay your mortgage faster and even reduce monthly payments!
Refinancing your home’s existing mortgage allows you to pay off old mortgages with more favorable tax advantages while taking out a slightly larger one. You might be able to take advantage of lower interest rates, change up which type of property insurance policy works best for your family’s needs, or even get rid of private financing altogether—depending on your circumstances.