How can refinancing benefit you? It depends on the details of your current mortgage and your long-term financial goals. But here are a few common reasons why people come to Supreme Lending to refinance their mortgage.
- Lock in lower interest rates, which can reduce your interest charges over the short term and the long haul of your home loan
- Change the repayment period, which can result in smaller monthly payments
- Eliminate debt more quickly, freeing up money for other needs
- Borrow against the equity they've built up in their home - known as "cashing out" - to gain funds for home improvements and other life expenses
