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Find out if now is the right time to refinance. You may be able to reduce
your monthly payments or reduce the term of your loan, by getting a lower
interest rate or a new loan term. You may also be able to save hundreds
or thousands of dollars if you use your refinancing to pay off credit
card debt or other installment loans. That's because interest on your
mortgage is tax-deductible, and the interest on these other loans is not.
Here are some key reasons to consider refinancing:
- Get a lower-rate mortgage.
- Convert an adjustable rate mortgage to a fixed rate mortgage.
- Consolidate a 1st & 2nd mortgage into a lower rate and payment.
- Get cash-out for home improvements, investment, or any purpose.
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