With a little research, and not being afraid to ask questions, refinancing could be the smartest financial decision you make this year.

1. Why Should I
Refinance My
Mortgage?

2. To Refinance Or Not To
Refinance, That Is The
Question
• Refinancing your mortgage can save you money and
even help you pay off your mortgage faster, but
that does not mean that refinancing is right for
everyone. Refinancing has unexpected costs and
time that may not be worth it depending on your
current mortgage situation.

3. To Refinance Or Not To
Refinance, That Is The
Question
• It is very important that every home owner have a complete
understanding of what it means to refinance a mortgage and the process
that it entails.
• First things first, what does it mean to refinance your mortgage? This
simply means that you are using a new loan to pay off the old or existing
loan. The details of the new loan will be different but the property used
to obtain the loan stays the same.

4. To Refinance Or Not To
Refinance, That Is The
Question
• Just as when you obtained your original mortgage, there are costs
associated with refinancing. There are closing costs, title insurance,
appraisals, taxes and more fees all associated with a refinance. It can
cost just as much as with the original mortgage. That is why it is so
important to understand what the savings will be before you refinance.
If getting a new mortgage does not provide a significant savings over
your current mortgage, then why go through the hassle?

5. To Refinance Or Not To
Refinance, That Is The
Question
• Refinancing done right can be a wise financial move. Finding
the right loan can make all the difference. When looking to
refinance, make sure you know and understand your current
interest rate compared to the current market rates. If your
interest rate is equal to or lower than the current market,
then do not refinance! If, however, the current market rate
is lower than your current rate, refinancing could be a
great option.

6. To Refinance Or Not To
Refinance, That Is The
Question
• With a lower interest rate on your mortgage, more
of your payment goes to paying down the principle
of the loan, thus increasing your equity and
allowing you to pay off the mortgage faster. Wait,
don’t forget those closing costs. By researching the
closing costs you can determine how long it will
take you to recover those losses.

7. To Refinance Or Not To
Refinance, That Is The
Question
• If the savings gained by refinancing doesn't not out
way the closing costs then there is no benefit. On
the other hand if your mortgage payment savings is
significant enough that you can recoup the closing
costs in relatively quick fashion, then you may be
onto something.

8. To Refinance Or Not To
Refinance, That Is The
Question
• With a little research, and not being afraid to ask
questions, refinancing could be the smartest
financial decision you make this year.
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