Refinancing a mortgage can sound like you’re taking on a lot. But really, there are plenty of solid financial reasons to refinance—perhaps you’re hoping for a lower rate*, or a longer term to help lower your monthly payments. However, you really need to be clear about your financial goals before diving in.
You can start by talking with a loan officer who can map out your financial plan and give you insights into things you might not have considered. Or you can start right away by applying online. Now, let’s talk about why you might want to refinance.
The most common reason for refinancing your loan is to change your mortgage rate to a lower interest rate. This should allow you to pay less each month. Keep in mind that there are usually fees associated with refinancing, so you need to figure out if the costs of getting a refinance are going to make sense to you financially.
Click the link to read the full article. WHY AND WHEN SHOULD YOU REFINANCE YOUR MORTGAGE
