Refinancing a mortgage is a big financial decision and it takes more than the decrease in interest rates to urge you to avail of another loan. You must understand your options and the considerations that go with each alternative.
What is refinancing?
Refinancing your mortgage means that you will go into an agreement of a new loan to pay the existing one. This represents a new loan, with new terms and even a new lender. It has a constant interest rate which is hopefully lower than the previous one. The terms can be shorter or longer, and sometimes, the interest is low enough that the terms not need be changed.
There are a variety of options available to help you make the right mortgage decision that could leave you with more dollars in your pocket.
What My Client’s say…
Are you interested in learning about what your mortgage refinancing options are? Please feel free to contact me as I would be happy to help you find the right financing option for you!