Should I Consider Refinancing My Mortgage?
When interest rates decline, mortgage refinancing becomes a particularly popular topic. However, there are several other good reasons for you to consider refinancing, including an increase in your credit score or home value, or the availability of more favorable loan terms. Each person’s situation is unique, and many factors must be considered before making the decision to refinance.
This flowchart helps guide you about mortgages, and covers:
Interest rate trends
Current loan rates and terms
Available alternatives
Motivations for refinancing
Cautions against refinancing
Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.