When evaluating whether or not you should refinance your home, the main question to ask is, “How does this benefit me?” The underwriters will ask the same question. Some helpful things to consider include:
Will it lower my monthly payment?
Will it lower my interest rate?
Will it help me become debt-free sooner?
Will it give me any needed cash from my current equity?
What will it cost me to refinance? See answer to, “How much does a refinance cost?”
Our Loan Officers are here to help examine the terms of your current mortgage to ensure that the total cost of refinancing will provide the intended financial benefits.