Refinancing Your Home
What Is Refinancing?
When you refinance, you obtain a new loan to pay off your existing loan. This can help you secure a lower interest rate, convert equity to cash, or shorten your loan term, ultimately providing you with better loan terms.
Should You Refinance?
Have home values increased? Have interest rates decreased? There are many reasons to refinance, but the best one is to achieve lower monthly payments or significant savings over the life of the loan.
Should I Use Cash-Out Refinancing?
Cash-out refinancing allows you to access part of your home’s equity as cash when you refinance. While your new loan will be larger than your current one, you can use the extra funds however you wish.