When you bought your house, the bank made you a loan to pay with the interest that was in force at that time. To refinance is to allow a new bank that offers you a lower interest rate to take the credit of your house and thus benefit from a lower monthly payment on the same house. In the long term, this discount is significantly lower in interest.
Each case is different, let us advise you and put at your service all the bank possibilities that are available to you so that you make the best decision.
BENEFITS
· Improve your interest rate · Lower your monthly payment · Shorten the term of your mortgage · Eliminate your mortgage insurance · Pay off your high interest debt