About Us

Take Advantage of Florida’s Low Interest Rate: Refinance Your Mortgage Loan 

Miramar, FL - October 6, 2009 - When is a good time to refinance your home loan and why? Extremely low interest rates currently have many Florida homeowners making haste to refinance the mortgage loans on their homes. Perhaps credit scores have improved so that it's a good time to work with a lender. It may be time to refinance your home loan because the state of your finances has changed. There are many reasons to refinance your home loan, and timing plays a key role in making this important decision.

With interest rates seeing all -time lows, many Florida home owners are looking at this as a good time to consider refinancing their mortgage loans. As a Florida homeowner, lLower interest rates could have significant savings for you on your monthly mortgage loan payments. However, you need to analyze this carefully as the cost of refinancing a home loan can often be more than you are saving. There are plenty of experienced mortgage brokers to discuss refinancing with. Tools such as free online mortgage calculators and of course, using the internet can assist you in determining whether or not there is any benefit to a refinancing a home loan.

When your credit score has improved, you may find that this as a good time to look for refinancing as well. Many people may have loans based on credit scores that were not as optimal as they are currently. Interest rates and the terms of the Florida home mortgage loan will generally improve for those that have a good credit score. So this may be a good time to work with a lender and consider if this is the time to refinance your home loan. You should check your credit regularly to get a clear picture of your score. It’s suggested that you do this at least twice a year and you can even take advantage of a free report from the three major credit bureaus annually.

Also, if the state of your finances changes, then you may want to examine refinancing your home loan. If you have the good fortune of your income increasing then you can work with a lender and see how this improves your loan possibilities. Often terms and interest rates change for the better when your debt to income ratio lowers. Even when your financial situation takes a turn for the worse, you may consider refinancing your Florida home loan as a way of lowering your monthly mortgage payment to increase savings.

Be sure to avoid the mistake of overlooking the resources and information that are available as you decide on when it’s the right time to refinance your home loan. The internet has a vast amount of information and you can even find free online mortgage calculators on many web sites. 

About TFCU:
Tropical Financial Credit Union has been offering quality products for customers for over 73 years. This fully accredited Florida credit union is open for all residents of Dade, Broward and Palm Beach counties in South Florida, regardless of where they work. They continually expand and offer free checking, the best current interest rates on used car loans, mortgage rates and other deposits and loan products. As always, they continue to offer free individual and business checking in Florida throughout their branches and for all their members. For more information please visit www.tropicalfcu.org.