Refinancing
Right now, interest rates are great. If you already own a home, you may be contemplating whether or not it is in your best interest to refinance. Before making that decision, ask yourself:

* How long do you plan to live in your home? If it's less than one year, refinancing may not be a good option since it takes that long to recoup your closing costs. (Closing costs can be paid up front, rolled into your new mortgage or eliminated by choosing a higher interest rate.)
* Is it time to change from a 30-year to a 15-year mortgage? This could greatly accelerate your equity buildup.
* Should you use this tax-deductible resource to liquidate cash for college, home improvement, debt consolidation, etc.?
* Are you satisfied with the size and location of your current home, or should you take advantage of low interest rates to make a move?

Refinancing makes sense only if the new rate is at least 1% or more lower than the rate on your current mortgage. The loan officers with HomeServices Lending can help you decide if refinancing is right for you. Contact us today to find out more!