Why Refi? Four Reasons Why Homeowners Decide To Refinance - MortgageDepot
Why Refi? Four Reasons Why Homeowners Decide To Refinance - MortgageDepot
Abstract
Refinancing means paying off an existing mortgage and replacing it with a new one. Most lenders recommend refinancing if you can lower your interest rate by at least 2%, although some say that a 1% reduction is enough to reap financial rewards. Some homeowners opt for a cash-out refinance and use the equity in their home for hefty expenses. While we don’t recommend you use the money from refinancing to take fancy vacations. Contact us at, MortgageDepot.
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