Refinancing your mortgage can be immensely financially beneficial for homeowners. It gives you an opportunity to save money in the short term, allow you to shift to a longer term situation, or pay off the current mortgage more quickly.

Why refinance, what does it accomplish?

The primary angle of strategy is lowering the rate of interest for the mortgage. This puts money in your pocket while taking advantage of current market prices. Also, you’ll have more time to consider other options on the market.

Does refinancing have an effect on my credit score?

In the early stages, yes, your credit will be affected. But in the long term, however, it should return to it’s original placement fairly quickly. If it does end up being affected, the change is by no means permanent.

Can refinancing help me acquire a new home?

Yes, refinancing your mortgage will give you a better opportunity to acquire a new home. If you are in the market for one after your current residence didn’t pan out, or there are better options on the market you are looking to pursue, this is a great avenue to give you more options.

Don’t feel restricted to your current mortgage situation. Consider refinancing, and set up a time for a consultation to see which avenue would be best for you.