Refinancing could be better than a Home Equity Line of Credit for you right now

VP/Senior Lending Officer Anabela VasconcelosSuper-low rates mean new options for you!   A lot of people are thinking about their “next best move” for a bunch of different reasons. Maybe you are too.

It’s not just the Coronavirus. Loan rates are very, very favorable for refinancing or borrowing – to make all kinds of things happen

Until very recently, a Home Equity Line of Credit would be the first choice for most homeowners planning home improvements.

With rates so low right now and depending on your specific reason for wanting financing, you may find it’s better number-wise to refinance into a new mortgage.

But not always. “It depends” is the answer more than ever.

When we run the numbers, many times it turns out that our “best of both worlds” Carve Out Loan is better than a mortgage refinancing for some homeowners. Basically, the Carve Out is a home equity line you can choose to pay off like an equity line ~or~ like a fixed-rate loan. It gives you total flexibility and convenience.

What’s right for you? This is one of those times when having a banker you can talk with really matters.

That’s what you get at Canton Co-operative Bank – lenders who know the options and can walk you through your choices, answering all your questions along the way. Come see us, email VP/Senior Loan Officer Anabela Vargas or call 781-828-8811 x4 to talk about what you want to accomplish and how to best make it happen.

Canton Co-operative Bank NMLS – #721437
Anabela Vargas – NMLS #582849 – Falo Português.

 

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