Refinancing a mortgage is a popular option for many homeowners, but is it right for you? Simply put, refinancing is essentially getting a new mortgage to replace the original. The main reasons people refinance are to reduce the interest rate, lower monthly payments, and/or make home improvements. However, there are many other benefits to refinancing! 

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Why Refinance Your Loan?
 

• Reduce monthly payments

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• Consolidate debt*

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• Refinance for a lower interest rate

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• Pay off your mortgage faster​

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• Gain stability by switching from an adjustable-rate loan to a fixed-rate loan

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*Using your home equity to pay off debts or make other purchases does not eliminate the debt or the cost of the purchases, but rather increases the loan amount of your mortgage to be paid according to your new mortgage terms.

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Ready to Refi?

If it’s been a while since you got your original home loan and the benefits we listed sound good to you, it could be worthwhile to consider looking into refinancing your mortgage. As with any big financial decision, it’s important to do your research thoroughly in order to reach the best choice for yourself and your family.

 

If you have any questions about refinancing or you’re ready to move forward with the process, contact us today and we’ll help you get started! 

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