Refinancing Your Home: The Basics

By
Services for Real Estate Pros with YourSiteNeedsMe.com

Refinancing a home is a big deal, and it’s something that most people don’t take lightly. But it can save you big bucks on your mortgage payments – so if you’re thinking about it, here’s what you need to know.

Refinancing Your Home: The Basics

Refinancing gets you a new mortgage loan at a different interest rate than what you had on the previous loan. You’ll have to go through a similar process to the one you went through with the original loan, including credit checks and providing proof of income.

It’s not for everyone, though. Refinancing usually only makes sense if you have a fixed-rate mortgage and interest rates are lower than what you’re paying now. Some lenders require you to have 20 percent equity in your home before they’ll allow refinancing, but not all do – just bear in mind that you may have to pay for private mortgage insurance if you don’t have that much equity in your home.

Are You Buying a Home in Aspen or the Surrounding Communities?

We’d love to help you find your dream home here. Call us at 970-429-8275 or contact us online to let us know what you’re looking for so we can start searching right away.

While you’re here you can also browse our:

Search Aspen Real Estate Listings by Price

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
46,270

YourSiteNeedsMe SEO Team

$399 Real Estate Websites - YourSiteNeedsMe.com
Ask me a question
*
*
*
*
Spam prevention