Is This The Right Time To Refinance Your Mortgage?
Have you been wondering if it's the right time to refinance your mortgage? Interest rates remain historically low, but forecasts are still that they will begin to creep up. If you have thought about refinancing, keep in mind that you need to take a number of other factors into consideration besides a lower interest rate that could lower your monthly carrying costs. These include:
- Your plans for staying in your home for the longer term.
- Your credit score.
- The amount of equity you have in your home.
The infographic below "walks you through" the decision-making process of refinancing.
Reasons To Refinance Now
With mortgage rates at their lowest levels in decades, it's agreat time to refinance. And while locking in a lower interest rate and lower monthly mortgage payments for years to come is a great reason to refinance, keep in mind there are other reasons to refinance besides just lowering your monthly payment. You might want to refinance to cash-out the equity in your home to consolidate higher cost debt, to fund a new business, to renovate your home, to remove/reduce private mortgage insurance cost, to convert to a fixed rate mortgage if yours is an adjustable mortgage.
Lots of reasons to refinance right now when interest rates are still the lowest we've seen in decades. If you need a referral to top Charlotte area mortgage lenders to discuss your refi options, contact Nina Hollander/Carolinas Realty Partners with Coldwell Banker Realty. We can introduce you to some of the Charlotte region's best lenders.
How Much Equity Has Your Charlotte Area Home Gained?
If you're thinking about refinancing to cash-out and use your home equity for other purposes, the first step is to find out how much equity your home may have, I can provide you with a home equity analysis and tell you how much your home has gone up in value.
This information about all the reasons to refinance your Charlotte area home while interest rates area at historic lows is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Charlotte metro area residential real estate experts serving Charlotte area home buyers and sellers for 20+ years.
If you're considering selling or purchasing a home in the Charlotte region, I'd love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:
"The Right Broker Makes All The Difference."
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