All Western Mortgage’s home refinance calculator
Before we tell you how to figure out the right time to refinance, you must be aware of the reasons of refinance. Here they are: • Rate and Term Refinance: The most common reasons for which people refinance is to either shorten their loan term or reduce their rate of interest. • Cash-out Refinance: Cash-out refinance means taking a new mortgage amounting to more than you are currently owed. You can take the difference as cash for any major expenditure like paying off existing debts, wedding etc. • Changing the type of loan: The other reason, for which people refinance, is to change their loan type. It can be for converting an Adjustable Rate mortgage to a Fixed-Rate one, vice versa, for eliminating the insurance of an FHA loan etc. In order to figure out whether it is a good time to refinance, you can use All Western Mortgage’s home refinance calculator. http://www.awmlending.com/calculators-refinance.php
218 views • 9 slides