See if you Qualify for USDA Home Loans!qualify for USDA Home Loan
Call TOLL FREE to speak
with a USDA Loan Specialist
855-474-7169
zero dollars down 100% financing competitive mortgage rates flexible mortgage credit

See if you Qualify!

Loan Information
Your Loan History
Personal Details
( ) -
★ Your information is secure and never shared. Read the privacy policy.

USDA Home Loan Advantages:

A USDA Loan specialist is waiting to talk to you.
AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY

100% financing home loans

Primary Residential Mortgage, Inc.
10121 N Rodney Parham, Suites C & D
Little Rock, AR 72227
855-474-7169
501-225-5626
NMLS # 3094
Branch NMLS # 252910
Licensed by Arkansas Securities Department 11558
PRMI Privacy Policy
PRMI Terms of Use
PRMI Consumer Voice
PRMI Licenses
Equal Opprtunity Lender

Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.

Why Refinancing Your Home Mortgage Isn't Always A Good Idea

A lot of people have experienced several ups and downs over the course of a few years because of the country's fluctuating economy. While the employment rate is slowly being revitalized, there are still a lot of homeowners who were deeply affected by the recession. With rates so low, many people are asking questions about mortgage refinancing.

Mortgage refinancing is when you get a new home mortgage with an entirely new term to pay off your existing one. It's quite a good option, especially to those who barely have enough financial resources to come by. Most people would immediately think that low mortgage rates would be the best time to refinance your loan, but making such a hasty decision shouldn’t be taken lightly. So, when should you consider refinancing your home?

If you got your mortgage plan before the nationwide housing crisis that happened a couple of years ago, then your mortgage rate would probably be one percent higher than it should. You might also want to consider refinancing your home if you started your mortgage with an ARM or an adjustable rate mortgage. You can choose a fixed- rate mortgage if you want to have a more stable mortgage plan.

But aside from all these things, when should you actually apply for refinancing?

Getting your house refinanced requires you to do everything that you did when you were applying for your original loan. The process for refinancing application includes providing your asset and income verification together with your credit history.

A lot of buyers would say often that because they have already taken care of the closing costs with their original loan, they wouldn't be paying for any additional fees for refinancing their property. However, this is not true as borrowers still have to pay the closing costs since it is still considered as a new loan.

That's why you have to consider a few factors if you want to refinance your house.  If the funds that you'll get on your new mortgage will be enough to cover the closing costs within a year or two, and you also want to keep your home then refinancing your home might be just worth it.

Asking assistance from a certified lender can speed up the process and may even help with your new mortgage application. It's important that you know what you're getting yourself into so that you'll be able to emotionally and financially prepare yourself for anything that's going to happen. What's important is that you set your priorities straight and make sure to make the best out of the funds that you'll be getting as soon as your request gets processed.

<< Back to the list.