Clients often call me with this question, but of course each case varies significantly as there are many factors to consider. When deciding whether or not to refinance there are two important questions you must ask yourself. Firstly, how soon would you like to realize the savings? Secondly, how much longer do you expect to reside in your current home?
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By: Robert Clancy
Is it worth it to refinance
By: Robert Clancy
Mortgage Refinance
A Mortgage Refinance is remortgaging your existing mortgage by using the equity in your home. For example; you have a mortgage of $200,000.00 and a home worth $400,000.00. You can borrow up to 90% of your home value, in this case up to $360,000.00 ($400,000.00 x .90%). Your new mortgage will be the $200,000.00 plus the extra money you take out.