Home refinance Loan

What is a Home Refinance Loan?

What is Refinancing?

When interest rates drop you have an option to refinance your home loan.

When you refinance you settle on a different loan interest rate.What are the advantages of Refinancing?

If you Refinance at a lower interest rate you will save money.

You will pay a lower interest rate and therefore your monthly payment will be lower.

What are the disadvantages of Refinancing?

Refinancing with a bank usually involves fees and charges.

In order to decide whether refinancing is advantageous you must calculate the savings and determine whether they outweigh the upfront charges.

When should I Refinance?

When the interest rates are down usually home mortgage interest rates are down as well.

It is best get a mortgage or refinance when interest rates are low.