Refinance your Property

When you refinance, you get a new mortgage loan your existing property to pay off your current mortgage loan that has a higher interest rate. Essentially, you liquidate your existing mortgage loan and replacing it with a new one over the same property whic usually results in excess cash for the owner. You can this excess to consolidate your debts, pay for educational costs and/or vacations, make improvements to your home, invest, save, pay for medical expenses or cover any extra costs to help maintain your finances under control.

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Advantages of refinancing

  • an interest reduction for your current mortgage credit of at least 1%.
  • Change the term of your mortgage loan.
  • refinancing to a shorter term loan, allows you to accumulate the liquid value of your home faster.
  • can take out the liquid value that you have accumulated in your property and use the funds for home improvements, consolidate debts or other purposes.
  • Increase your cash availability while reducing your monthly payments.

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The insurance products are not a deposit, not insured by the FDIC, not insured by any Federal Government Agency, not guaranteed by the bank or an affiliate, and may go down in value. ©2014 Doral Financial Corporation. All Rights Reserved.