Stuck with a high interest rate?  Refinance is a perfect answer for you if you are paying higher interest rate on your current mortgage.  Borrowers can take advantage of lower interest rates and start saving monthly.  Refinance will also help you to consolidate your debts and pay off your existing high interest debts.  Additionally you can also use this option as a cash resource for remodeling your home, travel, children’s education and maybe even for investing in new property.

Refinancing is taking a new mortgage to replace an old mortgage. More on Refinancing  An interest rate drop of one half to three quarters of a percentage point can lower your mortgage payment substantially.  When you refinance you have several options: you can refinance when the interest rate has decreased, you can also change the term on your mortgage from 15 to 30  years or vice versa.  Lastly, you can select a different  loan product such as an interest only mortgage, or an adjustable rate mortgage which could offer savings depending on your situation.  Mortgage Refinance Calculator

Common Reasons Why to Refinance Your Home