Benefits of Refinancing
I was speaking with a friend of mine this morning regarding refinancing and he asked a handful of great questions that not all homeowners know the answers to. Luckily, McCormick Mortgage is glad to answer any and all mortgage financing related questions. If you currently own a home, now is a fantastic time to refinance.
There are multiple reasons to look into whether or not refinancing is a smart move. Here are four categories that generalize “reasons to refi.”
1) Reduce your monthly payment
2) Consolidate outstanding debt such as a first and second mortgage.
3) Tap into built up equity in your home. (Help pay for college or home projects.)
4) Change mortgage programs or terms. (Go from a 30 year to a 25, 20 or even a 15 year amortization schedule.)
To determine if refinancing is a smart move, give us a call and we will go over the details with you. (No cost or obligation) With rates at their current historic lows, right now is a great time to look into the benefits of refinancing.