Refinancing

Deciding to refinance a mortgage is a big financial decision, and it takes more than a decrease in interest rates to urge you to take out another loan. You must understand your options and the considerations that go with each alternative.

What is refinancing?

Refinancing your mortgage means you will go into an agreement on a new loan to pay the existing one. This represents a new loan with new terms and possibly a new lender. The terms can be shorter or longer; sometimes, the interest is low enough that the terms may not need any changes.

Various options are available to help you make the right mortgage decision and, in turn, save money.