Tips on Refinancing

If you have come to a point in your finances where you are considering refinancing your home, there are some factors to consider.

A first factor to consider is the lender. The lending institution you borrow from can have a profound impact on the rate, terms, and safety of your refinancing loan.

Another factor is being clear about what you want to refinance. Do you have a number of debts you wish to consolidate into one monthly payment? Do you want to take advantage of lower interest rates and refinance your present mortgage? Are you in a financial situation where refinancing your home and taking out enough money from the equity could help you pay off your debt and lower your monthly payments? All of these factors influence how much you want to refinance and what you want to do with the money.

Finally, consider what the new borrowed amount will mean to your overall debt picture.

Contact Michelle for a confidential discussion about your particular situation.


 

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