Consolidation, Refinancing, or Both? How about getting a new mortgage with all the insurance you need.
Over the years, we’ve helped many homeowners save money and get a great deal on their mortgage or insurance. This is why our clients regularly refer their friends to us. So if you’re thinking how to refinance your mortgage, then you could be in the right place.
What is refinancing?
Refinancing involves replacing an already existing loan with a new loan with the aim of repaying the former with the new. Most times, it occurs when you need to use your homes equity for renovations or an investment property. Some loans are mad to take advantage of better interest rates or characteristics that would enhance your finance.
Although refinancing can be similar to when you first applied for a loan, the process can be a lot easier and quicker. This all depends on how quickly you can provide us with the information that you need, the reason you are refinancing and if you are changing lenders.
Will refinancing save me money?
Refinancing can save you money in the long term especially when you are refinancing to take advantage of better interest rates. However we must look at your reasons for refinancing and see how the refinance would help you achieve your financial goals.