Knowing when, why, and how to refinance your home is key to making a good decision to improve your financial situation.
Reasons refinancing may be right for you:
People always wonder if refinancing is right for them, be assured we want to make sure refinancing will benefit you. We will do the math and help determine if it’s in your best interest to refinance.
These are just some of the reasons refinancing may be right for you:
Lower your monthly mortgage payment
Eliminate PMI (private mortgage insurance)
Get out of an adjustable rate to a fixed rate mortgage
Shorten the term of your mortgage
Consolidate your debt (Pay off those debts faster, as a result. In reducing the total interest paid, you could pay off those debts faster)
Use your equity to remodel, add a pool, add value to your home, college tuition, medical needs or for a future investment.
**Remember, mortgage interest unlike credit card interest is often tax deductible. See your tax advisor.