Thinking of Refinancing? Consider a Mortgage Review First

“I believe everybody should have a mortgage review once a year,” says Ed Moloney, of Equity Resources, in Falmouth. Speaking with a mortgage professional on a regular basis will help you maintain healthy finances and ensure that you don’t miss out on savings available in the current market.

There are several reasons why people choose to refinance. Many are interested in a lower rate, which is typically the most popular reason. A lower interest rate could provide hundreds in monthly savings, and tens of thousands over the life of your loan. However, there is far more to a mortgage review than simply negotiating rates.

“A lot of people say, ‘I have a great rate, so I don’t need to refinance.’ However, the big picture is this: Your mortgage is there to secure your home. You need to ask yourself if that mortgage is working best for you and your needs. That’s what a true mortgage review will show us. It’s not just about the rate,” Moloney says.

Some people, he says, were once in an adjustable-rate mortgage and need to get out of it. Sometimes it’s due to a pending divorce, and sometimes clients want to take money out to do work on the home, or pay for their kids’ college tuitions. The reasons to refinance can vary greatly.

“Say someone bought a house, and they’ve been in it for three years,” Moloney says. “Then they took an equity line out. On top of that, they’ve got some credit card debt and maybe a personal loan. Through a review in conversation, they then say they are worried about a potential layoff.” With a mortgage review, he adds, it may come to light that maybe it does make sense to refinance. Or, the mortgage review can reiterate that the client is in great shape and doesn’t need to do anything.

Moloney encourages clients to contact him for a mortgage review, at no charge. He’s available to do it early in the morning or late in the evening, at scheduled times, if that’s what his client needs, he says. If you have your mortgage statements and know your debts, it could take around 15 minutes. He said less than 5 percent of mortgage lenders do review calls.

“I’ll look at all the pieces of the puzzle to help answer their questions. I built my practice on making sure there are good people around me, so I can provide more full service,” he says.

For over 25 years, Equity Resources, Inc. has been educating and serving its clients with the highest degree of quality and care. Moloney specializes in educating borrowers and ensuring they are getting what they need, financially. In cases of refinancing, he goes over all options, both pros and cons, with the clients. All loans are underwritten in-house, which leads to having many available options for each individual buyer.

“We are the best of both worlds,” Moloney said. “We underwrite in-house, giving us an independent level of control. I analyze and let you know the facts – what your ‘break-even’ point is, look at debt transfer options, run numbers for your term reduction or cash out options.

“Why? Mortgage rates are around historic lows which presents you with options – options most consumers are not aware of, simply since they do not do this daily. I do. I ask your goals and use my experience to give you options with pros and cons of each. Through communication, through understanding, we’re making sure all the clients’ questions are answered.”

For more information about Ed Moloney and Equity Resources, please visit

Edward Moloney
Equity Resources, Inc.
465 E Falmouth Hwy Ste B, East Falmouth, MA 02536
(774) 573-0329
Corporate NMLS: 1579, Edward Moloney NMLS: 10321



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About Ann Luongo

Ann Luongo has been writing for Cape Cod and South Shore publications for over 15 years.
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