Does a mortgage refinance make sense? The answer to that common refinance question largely depends on your goals for your new mortgage and how long you plan to stay in your home.
Indeed, there are several benefits to refinancing:
- You can lower your monthly payment by taking advantage of lower mortgage rates.
- You can choose a different loan product.
- You can combine two mortgages into one.
- You can pay off your mortgage more quickly.
Whether you are choosing to refinance to record low mortgage rates to lower your monthly payments or you're refinancing from an ARM to a fixed rate, each refinance decision comes with its own set of questions and considerations.
Here are answers to eight of the most common refinance questions Read On...