Refinancing
Refinancing can help you secure a lower interest rate, reduce monthly payments, or access your home’s equity. If rates have dropped since you last financed, it may be the perfect time to refinance. Other common reasons include:
✅ Paying off a balloon payment
✅ Converting an adjustable-rate loan to a fixed-rate loan
✅ Accessing cash equity for home improvements, education, or debt consolidation
An alternative to refinancing is a home equity loan, which allows you to tap into your home’s equity without refinancing—ideal if you have a low interest rate on your current mortgage or a prepayment penalty.
Benefits of Refinancing:
✔ Lower Your Interest Rate
✔ Cash Out Equity for Home Improvements
✔ Consolidate Debt
✔ Reduce Monthly Payments