If you haven’t refinanced your home recently, chances are you may achieve significant savings by doing so. Refinancing with a lower interest rate or new loan term typically reduces monthly mortgage payments. Refinancing can also be a smart strategy to consolidate debt, shorten your mortgage length or pay for major expenses. Key advantages include:
- Savings – reduce overall monthly payments
- Stability – convert adjustable rate to a fixed rate
- Tax deduction – unlike credit card debt, mortgage interest is tax deductible (consult a tax professional)
- Increase your home’s value – take cash out for improvements or additions
At Capstone, we believe wise borrowing leads to financial security. Refinancing isn’t always right for everyone. Before choosing to refinance, weigh the costs & benefits of a new loan. The Capstone Mortgage Refinance Calculator is a useful tool to help determine if refinancing is right for you. Also, feel free to contact us with any questions.
To learn more about refinancing, check out the Federal Reserve’s A Consumer’s Guide to Mortgage Refinancing and visit our frequently asked questions page.
If you haven’t refinanced your home recently, chances are you may achieve significant savings by doing so. Refinancing with a lower interest rate or new loan term typically reduces monthly mortgage payments. Refinancing can also be a smart strategy to consolidate debt, shorten your mortgage length or pay for major expenses. Key advantages include:
- Savings – reduce overall monthly payments
- Stability – convert adjustable rate to a fixed rate
- Tax deduction – unlike credit card debt, mortgage interest is tax deductible (consult a tax professional)
- Increase your home’s value – take cash out for improvements or additions
At Capstone, we believe wise borrowing leads to financial security. Refinancing isn’t always right for everyone. Before choosing to refinance, weigh the costs & benefits of a new loan. The Capstone Mortgage Refinance Calculator is a useful tool to help determine if refinancing is right for you. Also, feel free to contact us with any questions.
To learn more about refinancing, check out the Federal Reserve’s A Consumer’s Guide to Mortgage Refinancing and visit our frequently asked questions page.