Refinancing

Why refinance?

Refinancing a home loan means paying off an existing loan and replacing it with a new one. There are many reasons to refinance:

1. To obtain a lower interest rate

2. To shorten the term of their mortgage

3. To convert from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or vice versa

4. To tap into home equity to raise funds to deal with a financial emergency, finance a large purchase, or consolidate debt