There are also small, strategic ways you can chip away at your loan, such as rounding up your payment each month or ditching those daily coffee runs and adding $25 or $50 to your monthly payments. You can also pay…

The 1% rule states that you should aim for a 1% lower interest rate in order to ensure that the savings generated by your new loan will offset the cost of refinancing just to get a lower rate, provided you’ve…

Cash-out refinancing is when you borrow more money than is owed on your existing mortgage, and you receive the difference in cash. Some borrowers choose this option to finance home improvements, pay off credit card debt or pay for college…

Depending on your goals, refinancing your home can reduce your monthly payments and help you realize significant, long-term savings. Refinancing will also update your loan terms, meaning you may be able to move from a 30-year loan to a 25-year…

The process of refinancing your mortgage will be similar to when you first applied. First, you should obtain quotes from lenders and see what you prequalify for. Once you’ve determined that refinancing is an option you’d like to pursue, you’ll…

There are many reasons to consider refinancing, including: ·         Your credit has improved, meaning you may be able to get a better rate even if rates haven’t gone down ·         You want to take advantage of low interest rates ·        …