If your house payment is higher than you’d like it to be, or if you want to cash in on your home’s equity, you may be wondering if refinancing your mortgage might be a good option. However, the answer to the question “should I refinance my mortgage?” depends on your financial goals and the specifics of your current situation.
Some of the advantages of refinancing include:
Why refinancing may not be for you:
Refinancing can definitely be beneficial. But it isn’t always the right choice for everyone. For example, if you plan to sell your home within the next two or three years, refinancing for a lower interest rate probably won’t save you any money. However, if you are planning to remain in the home, refinancing may allow you to improve your overall financial situation. In any case, we recommend that you talk with a mortgage professional to help you make the best decision for your particular situation.
If you have questions about whether refinancing is right for you, contact us at Starboard Financial. We are here to help you get things done – The Right Way!