Should you refinance?
Current interest rates have dropped to a very low percentage worldwide. In the United States, national averages are currently around 5.5% for a refinanced mortgage loan. This can mean significant savings for a refinanced mortgage running into the hundreds of dollars per month.
Many people refinance to save on their monthly payments because they want to use the money for an improvement in living conditions. An extra hundred dollars a month buys groceries, bigger car payment or achieves some other financial goal people might have. The money for the refinance might also be used to make improvements to the house so it will sell easier in the near or distant future.
Houses are not selling as quickly as they used to, so a couple of added improvements might mean your house will sell faster for a better price. In the current market you need all the help you can get, and a well finished home is a big help in selling. Using the money that is liberated by refinancing your mortgage for home improvement is a smart investment decision.
Refinancing is best done by consulting the help of an expert. It's very important to look at the right kind of mortgage when you are thinking about refinancing, because choosing the wrong type could get you in trouble later on.
Many people refinance to save on their monthly payments because they want to use the money for an improvement in living conditions. An extra hundred dollars a month buys groceries, bigger car payment or achieves some other financial goal people might have. The money for the refinance might also be used to make improvements to the house so it will sell easier in the near or distant future.
Houses are not selling as quickly as they used to, so a couple of added improvements might mean your house will sell faster for a better price. In the current market you need all the help you can get, and a well finished home is a big help in selling. Using the money that is liberated by refinancing your mortgage for home improvement is a smart investment decision.
Refinancing is best done by consulting the help of an expert. It's very important to look at the right kind of mortgage when you are thinking about refinancing, because choosing the wrong type could get you in trouble later on.
About the Author:
Peter writes articles about mortgages in English. He writes articles about hypotheek advies and dure hypotheek oversluiten in Dutch.
posted by Credit Counseling at
1:04 PM
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