Everyone would like to pay less for the necessities of life, and have more money to spend on the non-essentials that can make life more comfortable, enjoyable, and fulfilling. Wouldn’t it be great to have more money to give to charity, or the take a vacation with family?
We’re taking about having more discretionary income, which is your income that’s left after taxes and personal necessities (such as food, shelter, and clothing) have been paid. The money we use for charity, investing, saving, luxury items, and vacations comes from discretionary income.
To increase your discretionary income you must increase your overall income and/or lower your expenses.
One way homeowners have increased their discretionary income is by refinancing their home. Refinancing can include a lower mortgage rate, and extend the terms (time to pay the loan), which can lower the monthly mortgage payment.
Refinance Mortgage Calculator
If you want to give a rough idea of whether you could benefit from refinancing, see our information about online resources that include a refinance mortgage calculator.
If you think you might benefit from refinancing, we would appreciate a chance to help you. We’ll by happy to help you understand your refinance options, and walk you through the process as your mortgage broker.