There are a few reasons people refinance their homes…
– Get cash out.
– Lower rate, or lower the number of years remaining on their mortgage.
– Debt consolidation.
I want to talk about this last one for a moment. When rates are as low as they are now it can make a lot of sense to consolidate your debt if you are carrying a lot of revolving (credit card), or installment debt.
Often the interest rates on these types of accounts are in the double digits. Sometimes high double digits. If you can take that debt and refinance it at a very low interest rate – it can save you hundreds of dollars every month.
If this is something you want to take a look at for yourself, just shoot us an email or give us a call.
We will take a look at it for you.
That’s it for today!
Have a great day!
Brett
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