Refinancing your home loan (taking out a new loan with different terms and paying off your existing loan) offers a way ensure your loan to best meet your needs as circumstances change. There are a variety of reasons why you might consider refinancing; tap into the equity in your home, eliminate mortgage insurance, reduce monthly payments, get a lower interest rate, pay off the loan faster, or switch from an adjustable-rate to a fixed-rate loan.
Refinancing your mortgage can be a powerful tool to achieve your goals.
The requirements for refinancing are like taking out a new loan (sometimes referred to as the 4 C’s) and there are considerations specific to refinancing. Some of these are:
The next step is connecting with a professional for advice to help achieve your goals. Fill out our short pre-qualification form now to get started!