If you are buying your home, you’ve probably heard of refinancing. Do you know what refinancing is? Do you know what the benefits are? You might be able to greatly benefit from refinancing and just need more information. Here are three reasons why refinancing might be beneficial to you.
Pay off Early
One big reason people refinance is to let them pay it off more quickly. If you’re currently in a 30-year mortgage, refinancing to a 15-year mortgage will likely decrease your annual interest rate. While your payments will go up, you will be able to pay it off in …