inception-app-prod/MmUzNzVlNDEtMGVhNy00MDRmLTgzMWYtODFlZWIxYzlhMmQ5/content/2020/10/logodenisesilvahor.png
Love Where You Live ....................Licensed in MA & NH
  • Home
  • Search
  • About
    • Meet Denise
    • Testimonials
    • Local Vendor Highlight
    • Blog
  • Areas
    • Windham
    • Salem
    • Tuscan Village
    • Londonderry
    • Derry
    • Hampstead
    • North Andover
    • Andover
    • Reading
    • Pelham
  • Buyers
    • Hire Me
    • Mortgage Calculator
    • Get Pre Approved
    • Mobile App
  • Sell Your Home
    • Your Home’s Value
  • Contact
Denise Silva
(603)475-4186
Sign In
Sign Up
inception-app-prod/MmUzNzVlNDEtMGVhNy00MDRmLTgzMWYtODFlZWIxYzlhMmQ5/content/2020/10/logodenisesilvahor.png
Love Where You Live ....................Licensed in MA & NH
  • Home
  • Search
  • About
    • Meet Denise
    • Testimonials
    • Local Vendor Highlight
    • Blog
  • Areas
    • Windham
    • Salem
    • Tuscan Village
    • Londonderry
    • Derry
    • Hampstead
    • North Andover
    • Andover
    • Reading
    • Pelham
  • Buyers
    • Hire Me
    • Mortgage Calculator
    • Get Pre Approved
    • Mobile App
  • Sell Your Home
    • Your Home’s Value
  • Contact
inception-app-prod/MmUzNzVlNDEtMGVhNy00MDRmLTgzMWYtODFlZWIxYzlhMmQ5/content/2020/10/logodenisesilvahor.png
Love Where You Live ....................Licensed in MA & NH
inception-app-prod/MmUzNzVlNDEtMGVhNy00MDRmLTgzMWYtODFlZWIxYzlhMmQ5/content/2021/06/62421-640.jpg

What is Refinancing and When Should I Do It?

inception-app-prod/MmUzNzVlNDEtMGVhNy00MDRmLTgzMWYtODFlZWIxYzlhMmQ5/content/2020/11/denise-headshot.jpg
Denise Silva,06/24/2021

Refinancing simply means paying off your existing mortgage and replacing it with a new mortgage. Why would someone do that? There are a few reasons that make refinancing your home a decision worth considering, the biggest reason being to save money. 

When the interest rates are so low, homeowners sometimes choose to refinance to get a better interest rate, a shorter term or take out the cash equity in their home for a remodel, repair or other large life expense. Often, refinancing results in a lower monthly payment, and/or fewer years to pay.

When You Should Consider Refinancing

When interest rates are 1-2% lower than the rate of your current mortgage, this could make a huge difference for your monthly mortgage payments if you refinance. If you’ve paid your mortgage for several years, and your income has steadily increased, you might consider turning your 30-year mortgage into a 15-year mortgage with a refinance. In this scenario, your monthly payments will likely be a bit more, but your term is half as long so you’ll pay off your house faster.

Before considering a refinance, you’ll need to have been paying on your current mortgage for at least 12 months, and have at least 10-20% equity in your home. But explore this option with your lender if you think it might benefit you!
Print Details
Previous post
Next post
Turn Your Home into a Smart Home
Your Home Check-up List for a Smooth Summer
EHO
EPRO
Realtor
EHO
EPRO
Realtor
EHO
EPRO
Realtor
EHO
EPRO
Realtor

Office

Keller Williams Gateway Realty-Salem
130 Main StreetSalem
NH 03079 www.denisesilvahomes4u.com
(603)912-5470
dsilvahomes4u@gmail.com

Find the perfect home

  • Home
  • Listings Search
  • About
  • Areas
  • Buyers
  • Sell Your Home
  • Blog
  • Contact

Consumer Protection & Privacy

  • Accessibility
  • DMCA Compliance
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us.
inception-app-prod/MmUzNzVlNDEtMGVhNy00MDRmLTgzMWYtODFlZWIxYzlhMmQ5/content/2020/10/logodenisesilvahor-2.jpg

© 2022 All rights reserved

Created with Placester

Sign in

Sign in with your email address

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Enter your email address

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again
Send
Succes! Your message was sent!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Please wait...

Account Verified!

You may now log in into your account
Go to the homepage

Verify your email address

In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link