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Mortgage Community Forums | Looking for Mortgage again | Reason to refinance

Reason to refinance

Posted on: 10th Mar, 2013 11:58 pm
i was collecting facts about refinance as i am planning to do one soon… is the only reason to refinance your home is to get a lower monthly mortgage payment?
Hi Guest,

Not necessarily. Mortgage refinance will not only help you in lowering your mortgage interest rate as well as the term of the loan.

Thanks,

Jerry
jerry
Posted on: 11th Mar, 2013 12:19 am
Hi Guest!

Welcome to forums!

Refinancing will also help you in transferring the mortgage from one person to another.

Sussane
smith.sussane
Posted on: 11th Mar, 2013 08:04 pm
You can refinance if you want to change your mortgage from adjustable mortgage rate (ARM) to Fixed Mortgage Rate.
opondo_moses1
Posted on: 13th Mar, 2013 01:56 am
Mortgage refinancing enables you to lower the interest rate on your present home loan and extend the loan term period. Thus, with such facilities, you will be able to pay off your mortgage loan with ease.
kate.kelley12
Posted on: 13th Mar, 2013 05:58 am
People generally do refinancing their home loans,when the mortgage interest rates are low.The main drawback of refinancing your home comes from possible penalties you may be as a result of paying down your existing mortgage with your line of home equity credit.
reversemortgagesss1
Posted on: 16th May, 2013 04:28 am
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