Refinance
Refinance Your Mortgage with Assurance
- Replacing your existing mortgage with a new one to secure better terms, reduce your interest rate, or access home equity.
- Refinancing comes with fees, such as closing costs, appraisal fees, and legal charges. Ensure the benefits outweigh these expenses.
- When interest rates drop, your credit score improves.
- Refinancing could extend your loan term or increase the total interest paid over time.
Considerations And Costs For Refinancing A Mortgage
Hearing the benefits of refinancing a mortgage may sound like an opportunity, and it can be!
But, it’s also important to work alongside a licensed mortgage broker (such as myself!) who has a full understanding of both the process of refinancing, in addition to the knowledge of any implications that refinancing may involve for you.
If your family member refinanced their mortgage and is extremely happy with the outcome, it doesn’t mean that you’ll also be just as happy with the outcome of refinancing your own mortage.
Mortgage Services
Is There A Golden Rule Of Thumb For Deciding Whether To Refinance?
Refinancing is a complex decision and it adds different risks and benefits for each borrower.
Connecting with a licensed mortgage broker is a valuable way to mitigate risks and ensure that refinancing is right for you.
After factoring in costs and pre-payment penalties associated with refinancing, you may end up saving money or it may end up costing you money.
