Refinancing can be intimidating, but it's worth considering due to potential savings. Key tips include evaluating how long you plan to stay in your home, as refinancing may not always save money long-term due to fees and interest rates. Understand any penalties for early loan payoff and ensure your refinance rates account for these. Additionally, check your credit score before applying, as a higher score can lead to better interest rates and offers. Consulting with a licensed loan officer can provide valuable guidance throughout the process.
Continue to full article
