Is It Time To Refinance? More Homeowners Are Doing Just That, And Here Are 4 Reasons Why.
Home loan refinances have not only been holding steady, but are also on the rise.
This after home loan rates hit their lowest levels in recent years, many homeonwners may be ready to refinance-and there are a variety of good reasons to do so. For instance, you could:
Lower your interest rate, making a big difference in your monthly out-of-pocket cots for housing, meanwhile saving money on financing fees over the life of your loan.
Build equity faster. On the flip side, homeowners who are in a position to make higher monthly payments could switch from a 30-year loan program to a 15- or 20- year loan structure, where available.
Change your loan program from an adjustable rate mortgage (ARM) to the stability of a fixed rate mortgage, taking advantage of today's low rates and loan programs.
Cash out on equity you've already established for tackling home improvement projects, paying off debt, or sending your child to college.
If you or anyone you know would like to discuss whether refinancing makes sense at this time and all available opportunies, please get in touch. We are happy to help!
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