Find out if now is the right time to
refinance your mortgage! You may be able to lower your
monthly payments or reduce the time it takes to pay off your
loan. You may also be able to save even more if you use your
refinance proceeds to pay off credit card or other
installment debt, since mortgage interest is usually 100%
tax-deductible, and interest on consumer debt is not.. Here
are some important reasons to consider refinancing:
- Get a lower mortgage rate and
reduce interest costs.
- Convert an adjustable rate mortgage to a secure,
fixed-rate mortgage.
- Consolidate your first and second mortgages into a
mortgage with a lower rate.
- Get cash for family wants and needs.
Whatever your reason is to refinance your mortgage in
California, the process begins by comparing the
various loan options you have available, including keeping
your current loan. Real estate loans usually have income tax
effects. Before rushing into a new loan, consider having
your figures checked by your tax advisor. Talk to your
current lender. They may reduce some of their fees in an
effort to keep your business, or because they may have
reduced paperwork.
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