Figuring out if refinancing makes sense can be very confusing and frustrating. Will you save money by refinancing? If so, how long will it take to break even? What type of loan you should choose? These are not the types of questions that can be answered by online financial calculators. There are many factors that need to be considered. We can help you make the correct decision by analyzing your situation based on your individual needs and goals.
Here are some of the main reasons for refinancing your mortgage:
- Lowering your interest rate or payment
- Reducing the numbers of years left on your loan
- Pull cash out to Consolidating your debt
- Pull cash out to Make home improvements
- Pull cash out to make an investment or purchase another property
- Convert an adjustable rate loan to a fixed rate loan to stop your payments from rising.