Atlanta Custom Builders: Seven Reasons for Refinancing a Home

Marietta, GA, December 17, 2013 --(PR.com)-- Refinancing is a topic that many families consider every time the interest rates fluctuate, but many choose not to pull the trigger. The reasons for not refinancing are usually centered around, "the rates are going to get even lower the moment refinancing occurs." However, what is unrealized is that the reasons for refinancing can greatly outweigh that single excuse not to.

Southland Atlanta custom builders understand that the year's end might not be everyone's ideal time of year to refinance their homes, but before making that final decision, determine whether or not there is a good reason to refinance. If there is a good reason, then now is the perfect time to refinance. Here are seven good reasons for refinancing this time of the year.

Lock in a Low Rate Before Rates Go Up
Many homeowners are always waiting for the interest rates to fall even further before finally choosing to refinance. But, trends are showing that interest rates are on the rise. This means that if homeowners want to lock in at a lower rate than what they're currently paying, then now is the time to refinance.

Get Out of an ARM Before It Adjusts
For homeowners with an adjustable rate mortgage (ARM) that is getting ready to adjust, now is the time to refinance your mortgage to a fixed-rate loan so you can take advantage of the current low rates and the stability offered by a fixed-interest loan.

Cash Out to Reduce Debt
If one currently owes less on a home than it is worth, then refinance based on its value and use the extra cash to pay down or eliminate other forms of debt, like that from credit cards, student or car loans, or any other debt balances.

Cash Out for Real Estate Investments
Another good reason to refinance a home that is worth more than what is owed is so the cash to make new real estate investments can be used. This is not without its challenges, however if doing so, assistance by a trusting financial advisor to help manage any unexpected tax or underwriting issues that may arise is recommended.

Cash Out for Family Matters
One of the most common reasons for a refinance is so the homeowner can afford a higher-than-average family expense. This can include paying for a child's college tuition, paying for a wedding, helping a child avoid foreclosure on their own home, replacing a totaled or inoperable vehicle, covering an expensive home improvement project, or any other costly family matter.

Consolidation of Two Mortgages
If a homeowner has a mortgage and a home equity line of credit, then refinancing the mortgage can help consolidate debt into one easy payment. Doing so now can also help avoid future unexpected interest rate hikes in home equity line of credit.

Take Out a Mortgage on a Paid-Off House
While it is not technically a "refinance," taking out a mortgage on a house that is paid off is similar to one. Reasons for doing this can include using the money to start a new business, using the funds to purchase a second home in cash, or any other reasons where a substantial amount of money is going to be required.

For more information about Southland Atlanta custom builders or to start designing a custom dream home with Southland's team of professional home designers, contact Southland Custom Homes today by calling 1-866-56-BUILD or visit the website at www.southlandcustomhomes.com.

About Southland Custom Homes

Southland Custom Homes is one of the top-rated on-your-lot builders in GA. Since 1980, Southland has helped thousands of people build high quality new homes in metro Atlanta, Macon, and North and South Georgia, while staying true to its mission of building quality, affordable custom homes on the land their customers love. With model centers located in Marietta, Stone Mountain, Dawsonville, Metro Atlanta and Macon, the Southland Custom Homes team is your best choice for a Georgia new home builder.

Southland designs high-quality custom built homes that will fit your lifestyle and budget. Their customers may choose from over 120 beautiful custom home plans, each one customized to suit individual needs. Additionally, customers who have their own house plan can get a free estimate to build from Southland within 48 hours. Southland will also design and build a new home “from scratch” for those individuals who want all of their ideas incorporated in their perfect dream home. Best of all, these custom design services are free to all Southland customers!