Thinking of refinancing?
Not all home loans are created equal. Some appear great from the outside looking in, but aren’t so welcoming after you’ve signed up. Or circumstances change and a mortgage that once served your needs is no longer appropriate.
Whatever your reasons, refinancing is a big decision – as big as your initial decision to take a mortgage. Before choosing a new lender, you should be clear about why you’re jettisoning the old. The reasons might include:
Benefits of refinancing
Avoiding any or all of the negatives mentioned above might be the most obvious benefits of refinancing. But you should also consider positives. Refinancing can:
What about penalties?
Your current lender will often charge you a penalty for moving your mortgage. But if you refinance on the right terms you might still save money – despite the penalty.
The key is to crunch the numbers, comparing old to new.
Contact us for more information.