Should I Refinance?
There are many reasons you may choose to refinance your home. When considering this, it is important to have a goal in mind. You might choose a refinance because you want to lower your interest rate to save on your monthly mortgage payment, you may also wish to refinance because you have an Adjustable Rate Mortgage (also known as an ARM) that is due to adjust to a higher rate. Another common reason to refinance is to utilize the equity in your home to build an addition, start a business, pay for college, ect… Whatever your motivation, we at Arbor Financial are dedicated to making sure that you understand the benefits and costs of this of home loan. Not all refinances make financial sense, if this is ever the case, we will suggest other options that best fit your goals.