Everyone’s financial picture is different. For some, refinancing a mortgage might be a way to consolidate debt. For others, it may be a way to pull equity out of your home for long-awaited improvements. There is no magic formula for determining the right time to refinance, however a rising interest rate environment and recent changes to the tax law are spurring homeowners to do their research.
There are a number of factors that go into the decision to refinance. Here are a few things you may want to consider when thinking about your refinancing strategy:
Knowing when to refinance can be tricky. An experienced and trusted mortgage lender is a huge help when determining your options for refinancing. When advising you on your home refinance, a loan officer will consider factors like what type of mortgage you have, your credit score, your goals, and more. Here are some refinancing options that you might consider:
Because the financing of your home is dependent on so many factors, it’s necessary to choose a loan officer you trust with your financial future. The right loan officer will listen to your unique needs and help you evaluate solutions based on your full financial picture and long-term goals. Remember, you want to feel as comfortable with your loan officer as you do in your home.
Let us know how our team of experienced, tenured loan officers can help you as you consider refinancing.
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