home mortgage glossary
home mortgage glossary
home mortgage glossary

 
You can opt to get the equity you've built up over time in your home and get a cash-out refinancing.

An interest only mortgage requires you to pay the interest instead of principal and interest of paying for a repayment mortgage.

Remember that you are the borrower and the one who pays the mortgage refinance loan for a number of years.

Many people think you can not go wrong with refinancing, but this is not the case at all! You must take the process very seriously and consider every move before you make a permanent change.

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Fortunately, they are also fixed rate loans, so you will do the same affordable payment for the duration of your loan.

Depending on the size of the mortgage, it is not uncommon to save hundreds of dollars a month by refinancing.