The Refinance Home Mortgage GuideArticle Posted by Expert Author: Tony Caro on 12/13/2013
Our home mortgage refinance guide lets you know how to go about refinancing your home loan. And it is really easy too. For those who want to refinance to take advantage of lowering their monthly mortgage payments, the good news is that rates have come down radically since you got your original loan. This means that you will be able to reduce your payments to a large extent. But there are plenty of other reasons for everyone to refinance their mortgages. For example, you may turn in your old loan because this will cut down the period you'll be making payments, or perhaps you want to take advantage of the equity built up in your home for the past few years. Another reason may be to jump from an adjustable-rate mortgage (ARM) to a fixed-rate loan which guarantees set payment amounts no matter what happens to mortgage rates in the future.
It is important to list down all the assets that you may have before you apply for a refinance home mortgage. This means taking account of any retirement accounts, bonds, stocks, trust funds, mutual funds as well as whatever you have in savings and checking accounts. This is an important step because if you don’t do so, it’ll be hard to get an authorization on a loan without large reserves on your side.
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