With rates still near historic lows, now is a good time to talk to a mortgage professional to discuss your home ownership goals. In fact, refinancing is booming right now with requests for refinances making up 64 percent of total mortgage applications the first full week of July, according to the Mortgage Banker’s Association. Here are four signs it might be time for you to consider refinancing your mortgage!
While refinancing has a range of benefits that can save homeowners thousands, many question whether they should go through with the process. Here are the top three reasons why some people choose the refinancing route!
Fixed-rate mortgage and adjustable-rate mortgages are the two primary mortgage types for home buyers. While other loans options fall within these two categories, the first step in home buying is determining which of the two types best suits you!
Have interest rates gone down from when you originally financed your home? Has your financial situation changed since you bought your home? Has your home value increased? Answering “yes” to any of these questions could mean it’s a good time to refinance your home.