When Does it Make Sense to Refinance Your Mortgage?
If you’re a homeowner with an existing mortgage, you might think you’re all set. But just because you have a mortgage locked in doesn’t necessarily mean it’s the best mortgage for your situation. Refinancing is a cost-effective and logical option in many cases, particularly in a market with historically low interest rates. What Does it Mean to Refinance?Refinancing is essentially the process of replacing your existing mortgage on a property with another mortgage that has different and more advantageous terms. There are a variety of reasons to refinance – and we’ll discuss many of them here in ...