Refinancing A Mortgage: Is It Too Soon?
Due to the fact that mortgage rates are still hovering near record lows, many homeowners are considering refinancing to a lower interest rate. This is a great way for homeowners to shorten the term of the loan, reduce the size of their monthly payments, and access cash for a home improvement project. On the other hand, there are some situations where it might be too soon to refinance an existing mortgage. What are a few factors to consider? Conventional Home Loans Might Require A Certain Amount Of Equity Homeowners with a conventional loan should reach out to their lender to see what the requirements are on the home loan before refinancing.…