Refinance for Savings
Refinancing your mortgage right now could be a smart financial move. You can potentially lower your monthly payments, reduce the total interest paid over the life of the loan, or even shorten the loan term. For some, switching from a variable-rate mortgage to a fixed-rate loan provides more stability, protecting against future rate hikes.
Cash in on a Cash-Out
Tapping into the equity in your home through a cash-out refinance can provide funds for major expenses, such as home improvements or debt consolidation. By refinancing for more than your current mortgage balance, you receive the difference as cash while still benefiting from potentially lower interest rates.
