Is It Time to Refinance? Save Money By Refinancing
Can you save money by refinancing? With the low interest rates, a lot of people are asking, "Is it time to refinance?" The goal of refinancing is to save money. So, if you can save money on your mortgage by refinancing, it is the right time to refinance. However, you have to consider the closing costs and the length of the loan. If you change the terms of your loan, you may not save money by refinancing, even with a lower interest rate. Consider how much money you will save on your mortgage when trying to decide if it is the right time to refinance.