Qualifying, renewing, refinancing, oh my! Mortgages can feel confusing sometimes. Luckily, it’s not always as complicated as it seems. If you’re feeling overwhelmed, there’s an abundance of resources in place to help you, including the expert advice of your REALTOR®!
Let’s break down the process of refinancing your mortgage—what it means, when it happens, and why.Image via Pexels
What is refinancing?
Simply put, refinancing your mortgage is the process of breaking your current mortgage agreement and starting a new one. It’s essentially a “restart” button you can press to change your mortgage terms—including its length, rate type (fixed or variable), and your monthly payment amounts. You can change your lender, or stick with your current one.…
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