What Questions Should You Ask Yourself Before Refinancing?

If you are interested in refinancing your home, there are a few questions you should ask yourself before you get started.

  1. Do I have the time to spare? Refinancing is a big decision. Make sure that you have enough time to dig into the details.
  2. Will I break out even or come out ahead? It is important to think ahead and calculate whether it is worth it monetarily for you to refinance.
  3. Am I disciplined enough to resist rolling other debt into my mortgage? While the interest rate on your mortgage is lower than other loans, spreading debt out over a 30-year mortgage may make the total due higher.
  4. Will I qualify for the rate I want? If you don’t qualify for the advertised interest rate, you may not make a profit.
  5. Can I meet today’s stricter lending standards? Lending standards have changed since the housing crisis. Make sure you know the new rules.
  6. Is the new loan really better? Have an expert examine the new loan to ensure it is better than your original one.

We are happy to help you with refinancing, contact Avis Lending. Contact us today!

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