A Consumer’s Guide to Mortgage Refinancings

Consumer’s Guide to Mortgage Refinancing | 3. Why consider refinancing? Reduce your interest. The interest rate on your mortgage is directly linked ….

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A Consumer’s Guide to Mortgage Refinancings contents

  • Mortgage shopping worksheet … 2
  • Why consider refinancing? … 3
  • Lowering your interest rate … 3
  • Adjusting the length of your mortgage … 3
  • Changing from an adjustable-rate mortgage to
  • a fixed-rate mortgage … 4
  • Getting an ARM with better terms … 4
  • Getting cash out from the equity built up in your home … 5
  • Are you eligible to refinance? … 6
  • What will refinancing cost? … 7
  • What is “no-cost” refinancing? … 10
  • How do you calculate the break-even period? … 11
  • How can you shop for your new loan? … 12
  • Talk to your current lender … 12
  • Compare loans before deciding … 13
  • Get information in writing … 13
  • Use newspapers and the Internet to shop … 14
  • Be careful with advertisements … 14
  • Glossary … A1
  • Where to go for help … A6
  • More resources and ordering information … A8
  • Print orders … A9

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Download A Consumer's Guide to Mortgage Refinancings pdf from www.pueblo.gsa.gov, 29 pages, 263.02KB.