Paul Hirschauer Lists Alternative Reasons to Refinance a Mortgage

Mortgage professional Paul Hirschauer reveals myriad reasons to consider a refinance—even when rates haven’t dropped.

There is one universally agreed-upon reason to refinance a mortgage—and that is because interest rates are in decline. What might surprise homeowners, though, is that there are actually many other reasons to consider refinancing, even when interest rates aren’t going down. In a new statement to the press, Guaranteed Rate mortgage professional Paul Hirschauer lists some of the reasons why a borrower might consider refinancing.

“Everybody knows that, when interest rates drop, it can be advantageous to refinance your mortgage loan,” Hirschauer affirms. “But did you know that there are other scenarios in which refinancing can be equally advantageous?”

One such reason is an improved credit score. “Rates may not have changed, but perhaps your credit report has,” Hirschauer comments. “If you had mediocre credit when you applied for your mortgage, but have now grown it to 760 or more, it’s worth asking your mortgage agent about refinancing. It could net you some lower monthly payments.”

Additionally, some homeowners might consider refinancing to change the mortgage term. “Maybe you got a 15-year loan, but have since had some adverse changes to your home income, and are having a hard time keeping up with monthly payments,” Hirschauer comments. “Refinancing to a 30-year mortgage can help make those payments more manageable.”

Homeowners can also consider refinancing in order to convert an adjustable-rate mortgage (ARM) loan into a fixed rate loan. “If you want to convert your loan into something with a higher level of certainty, going from ARM to fixed rate can certainly be smart,” Hirschauer says.

Ultimately, refinancing is not the best move for every homeowner, but Hirschauer says it’s something that borrowers should keep in their back pocket.

“You never know when one of these situations might arise, or when rates might take a downward turn, as they have for most of 2016,” he explains. “Make sure you are aware of all the options that you have, and of the benefits that refinancing might bring.”

More information about Paul Hirschauer and his mortgage services—which include assistance with refinancing—can be found online at


Paul Hirschauer is a Senior Vice President of Mortgage Lending with Guaranteed Rate; based in Connecticut, Hirschauer is passionate about making his clients’ dreams of homeownership come true. He is one of the top 1 percent of loan originators in the country. More information about Hirschauer and his services is available online at

Media Contact
Company Name: Guaranteed Rate
Contact Person: Paul Hirschauer
Phone: 860-868-6060
Country: United States