Link to Owner Dr. Robert B. Pamplin Jr.



This article brought to you courtesy of Robert Groves, Senior Mortgage Broker at Minuteman Mortgage, News-Times Insider Mortgage Expert.

Robert Groves

It's a great time to refinance now thanks to historically low interest rates and homes recently having substantial equity in them.

Refinancing is replacing your original mortgage with a new one and there are many reasons to do so, including lowering the current interest rate to lower the mortgage payment; to change the term or to get rid of private mortgage insurance.

Examples of personal reasons for refinancing are, how long do you intend to stay in the current home, what are your financial goals or is your credit score acceptable?

With this current housing market with low inventory and escalating home prices, some folks have decided to do some home improvements, like repainting, updating the kitchen or bathrooms, re-doing the back yard or building an addition. Pulling cash out of your home and financing that with a traditional mortgage in most cases has a lower interest rate than a Home Equity Line of Credit (HELOC) or a fixed rate Second Mortgage. There are closing costs on traditional mortgages, but there are little or no closing costs on a Home Equity line. Additionally, on the traditional mortgages, the interest rates are lower, fixed and fully amortizing (not interest only), meaning they will be paid off on or before the term ends.

To see if refinancing is right for you, reach out to me at 602-460-2374 or email me at This email address is being protected from spambots. You need JavaScript enabled to view it.. We can have a no obligation consultation to see if this is right for you. I'd love to help!

Robert Groves

Senior Mortgage Broker

5635 N.E. Elam Young Parkway, Suite 308

Hillsboro, OR 97123


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