Mortgage Refinancing, Debt Consolidation and Private Lending
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Refinancing your home can be a great idea if you plan to tap into the capital you have accumulated.
However, it is important to consider all the costs and benefits involved.
Mortgage refinancing surged in 2021. Consider that one analysis showed an increase of about 200% in the cumulative dollar value of refinances in this year’s second quarter compared to that of the second quarter of 2021.
If you’re considering refinancing your mortgage or wondering if you should jump on the refinance bandwagon, here are six reasons why you should act now and contact a loan officer to refinance.
- To lower your interest rate and monthly payment.
- To get rid of mortgage insurance.
- To consolidate debts and loans.
- To buy an investment property.
- To take advantage of a lower interest rate
- To withdraw money from your home to finance a renovation project.