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Refinance

Refinancing has benefits and drawbacks, depending on your financial situation and the state of the housing market. Know if a refinancing of the terms of your home loan is the best option for you.

  • Reasons to Refinance

    Patrick Hanan  Posted by Patrick Hanan on June 15, 2010

    Refinancing the terms of your home loan can be a great idea and can offer a variety of benefits, but it isn’t for everyone. It will depend on your specific situation and the current state of the market. Make sure you consider refinancing very carefully before going through...

  • Costs Associated with Mortgage Refinancing

    Patrick Hanan  Posted by Patrick Hanan on June 15, 2010

    Usually, the goal of refinancing your mortgage is to save money. The hope is that you will end up with a lower interest rate than you had initially, thus making your total payments lower. Unfortunately, the process of refinancing your mortgage involves costs that may make...

  • Tax Effects of Refinancing

    Patrick Hanan  Posted by Patrick Hanan on June 15, 2010

    A large amount of factors contribute to whether or not a refinance is going to be a profitable venture for you. For instance, refinancing to a lower rate will mean less tax benefit for you. In some cases, this may make refinancing a poor financial decision. The presence of...

  • Cash-Out Refinance

    Patrick Hanan  Posted by Patrick Hanan on June 15, 2010

    A cash-out refinance is a way to make some money off the equity you’ve built in your home. It replaces your original mortgage with a new loan for more than what you currently owe. In a way, you are reselling a portion of your house that you now own (the equity) back to a...

  • Paying Points

    Patrick Hanan  Posted by Patrick Hanan on June 15, 2010

    The issue of paying points on your mortgage is one that every borrower, first-timers and veterans alike, is going to have to deal with. Paying points has its pros and cons (as do so many things in the world of mortgage), but the circumstances of a refinance may make...

  • Bad Credit Refinancing

    Patrick Hanan  Posted by Patrick Hanan on June 15, 2010

    There are plenty of reasons to refinance your mortgage. You may have gotten a large increase in income and wish to pay off the loan sooner. Or, maybe you have a fixed-rate mortgage and want to refinance to get lower interest rates. You may even want to switch from a...

  • Refinance FAQs

    Patrick Hanan  Posted by Patrick Hanan on June 15, 2010

    Refinancing a mortgage is complicated, so you'll have a lot of questions. Find out answers to frequently asked questions about mortgage refinance before going through with the process.

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