Because of the current lower interest rates, many mortgage experts are advising Mobile Eastern Shore home owners to consider refinancing their existing mortgages as a way to
- decrease the amount of their monthly mortgage payments
- reduce the duration of their current loan, or
- provide money for home improvements or other expenses. Interested? Read on…
Before you rush into refinancing your Mobile Eastern Shore real estate, be aware of two key strategies that will benefit you. The first is KNOWLEDGE. Carefully investigate the pros and cons of different refinancing features such as interest rate, closing costs and fees, and the term of the loan. Determine the purpose of your refinancing and the amount of savings and/or money you hope to gain from it. Examine your personal financial situation–now and in the future–to identify the best option for you.