REFINANCING

Homeowners choose to refinance for a wide variety of reasons. Some of the most popular ones include:

• Obtain a lower interest rate.
• Build equity faster.
• Change loan type.
• Take advantage of an improved credit rating.
• Draw on equity already built in the home.

Obtaining a lower mortgage interest rate can lower your monthly payment and is the most common reason that most homeowners refinance. Building equity faster is also a popular reason because owning a home can be one of the safest and most profitable investments you can make.