Is Refinancing Only For The Established?
Refinance, that word sounds like it only belongs in stodgy, dark rooms filled with leather bound books or in a corporate conference room filled with professionals who run on coffee and pure drive. Am I right? Being fairly young and a first-time homeowner just a few years ago, I thought refinancing didn’t happen until we retired or some other big life change hit us. So, you can imagine that I was surprised when my husband suggested refinancing our home. As it turns out, you can refinance, change the life of your loan and your interest rate to better fit your circumstances. Let’s face it, when he and I bought our first home, in which we still reside, our financial situation wasn’t the best (it wasn’t the worst either) but we are in much better shape now so for us it made sense to refinance.
So, to answer that question posed at the beginning of this blog entry, is refinancing only for the established? No. It is for those whose financial situation has changed and they need a mortgage that better suits them. If you want to hear about a young couple who weighed the options of refinancing to see what was best for them, check out the blog post from my favorites over at Young House Love.
If you think that refinancing might be a good option for you, we are here to give you the information to help you decide what is best for your circumstances. We also have a guide that can help you make the decision that is best for you and your family! Download your copy here.