When you refinance your mortgage, you’re actually replacing it with a brand new loan.  This is often a sound financial choice, possibly allowing you to reduce your monthly payments by taking advantage of lower interest rates, to pay off your mortgage faster by shortening term, and more.

Features:

• Reduce your monthly payments by taking advantage of lower interest rates

• Reduce the interest cost over the life of your loan by paying off faster

• Pay off your mortgage faster by shortening its term

• Free up cash for other major expenses or to consolidate debts

Right time to refinance:

• A good rule of thumb is that if interest rates are 1% below your current interest rates, it might be a good time to consider refinancing.

• Ask us how to save interest without refinancing.

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