Refinancing Your Mortgage

Depending on how long you’ve been a homeowner, chances are you’ve received offer after offer of lower monthly mortgage payments if you just refinance your home. Is it a scam? Or could refinancing your mortgage actually be a wise, financial decision for your family?

The Pros of Refinancing

One of the main reasons people choose to refinance their home is to obtain the funds they need for things such as medical expenses, home renovations, etc. Mortgage refinance can be a better choice than a regular loan due to lower interest rates, which can help save thousands in interest over the lifetime of the loan.

Also, refinancing can help homeowners reduce the length of their home mortgage. For example, when you first purchased your home, you might have chosen a 30-year fixed mortgage, which is most common for home buyers. However, by refinancing your home, you can possibly pay a little more a month but for a 15-year fixed mortgage instead of 30. Therefore, you could actually own your home in a shorter period of time, freeing up some money for your retirement savings.

Were you in a rush to purchase your home and quickly chose the adjustable rate mortgage? No worries! Refinance your home at a fixed rate this year, so you can live less stressed in 2017 knowing your mortgage rate won’t change for the next 15 or 30 years.

Are you ready to get started refinancing your mortgage? Our team is here to help you find the perfect refinance option for your needs.