TIPS ON REFINANCING YOUR MORTGAGE
Did you know that refinancing your home can potentially save you thousands of dollars over the life of your loan? Most homeowners complete the home-buying process and don’t look back, but when should you consider refinancing your home and what are the benefits for doing so?
WHEN SHOULD YOU
CONSIDER A HOME REFINANCE?
When you want to move from (or into) an adjustable-rate mortgage
When you want to consolidate a first mortgage and a
home equity loan into one fixed-rate mortgage
When you want to add on or remodel but don’t
have the cash on hand to do it
THE BENEFITS OF
REFINANCING YOUR HOME
Lower your interest rate
Restructure the terms of your mortgage loan
Lower your monthly payment
Use the equity in your home to make home improvements
TRYING TO DECIDE WHETHER REFINANCING IS RIGHT FOR YOU?
It is important to consider the cost associated with refinancing when determining if it is the right decision for you. As with any
mortgage-related transactions, there are closings costs involved, and a borrower should determine if the savings will outweigh
the costs. This is usually only a factor when you don’t plan on staying in the home for a long period of time.
"BORROW MONEY THE SMART WAY"
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