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!
From getting a lower rate to lowering your monthly payments to switching from an adjustable-rate to a fixed-rate mortgage, there are many reasons to consider refinancing your home mortgage loan. Whatever your reason is for refinancing your mortgage, we know it can be an overwhelming process. Here are 5 steps to follow to ensure a successful refinance.
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.