WE HAVE A MORTGAGE SOLUTION FOR YOUR UNIQUE SITUATION
Loan refinancing is signing up for a new loan to replace an existing one. It affords certain benefits, such as lowering mortgage payments as well as lifetime interest costs. You can use a mortgage calculator to see if this is the case with the new loan you are considering. If you’re not careful however, refinancing your mortgage can cause you more headache than benefit in the long run.
When to give refinancing a go:
- Your credit rating has improved since you obtained the first loan.
- You can have an amortizing loan as opposed to interest-only loan.
- You get low interest rates.
- You can avoid the consequences of a high-risk mortgage.
- You will keep the loan for a considerable amount of time.