Why is refinancing a good option?

Why is refinancing a good option?

Loans By Desmond

● Refinancing can secure a lower interest rate, reducing monthly payments and long-term interest costs.

● Allows combining multiple debts into one, simplifying finances and potentially lowering overall interest rates.

● Shortens the loan term, helping build equity faster and save on interest.

● Offers opportunities to access home equity for major expenseslikerenovationsordebtrepayment.

● Allows switching from an adjustable-rate mortgage to a fixed-rate mortgage or vice versa, providing stability or flexibilitydependingonneeds.