Refinancing

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Refinancing is a word used frequently in the world of mortgages.

What is it? Is this an option for me? When should I? How can I?

These are all questions we ask ourselves as we explore mortgage decisions.

Deciding to refinance can help you save money on your mortgage, shifting your debt to a more favorable position.

What is Mortgage Refinancing

Refinancing means you are paying off your previous loan and replacing it with a new one. To refinance your loan, requires you to qualify for the loan as you did with the original mortgage. The process will be the same submitting an application, underwriting review and closing. Choosing to refinance can offer better terms, lowering your monthly payments and allowing you to pay off the loan sooner.

Why You Should Refinance

Refinancing can take time and seem like you are spinning your wheels, but this process has many benefits.

Reduces monthly payments with lower interest rates

Securing a lower rate can help lower the amount you spend...

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As you start exploring different mortgage options the term “amortization” will be brought up quite a bit. Not to worry. We are here to breakdown amortization and how it impacts your mortgage.

What is Amortization?

Amortization is making a fixed payment over time, with a portion of your payment going towards the loan principal and the other remaining portion towards interest, based upon a predetermined schedule.

Once you start making payments on your mortgage, our amortization schedule will help you determine how much of your monthly mortgage payment is spent towards principle and how much towards interest. We have a tool to help take the guessing out of these payments. Our amortization schedule will show you in detail how each payment on an amortizing loan will be repaid.

The Mortgage Amortization Schedule

The amortization schedule will help you determine how much of your mortgage payment is being allocated. The amortization schedule is a chart showing the fluctuating amounts paid towards your principal and interest...

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