Generally, people refinance to decrease their interest rate. Another great reason to refinance is to use the equity in your home to re-invest in your property. It’s important to consider the costs associated with refinancing to ensure it’s the best decision for you.
Mortgage refinancing saves you interest expenses through lowering interest rates and consolidating debts.
Reasons to opt for a mortgage refinance:
- Lower rate of interest – the penalty of breaking the current contract doesn’t always cost more than current interest payments. The benefits may outweigh the loss.
- Investment opportunities – through savings from refinancing.
- Consolidating your debt- pay off various high interest debts using the equity in your home.
- To financially recover from unexpected losses.
I can help choose the best option for you. Learn how to use your home as a financial tool to better your life.