An Overview of the Mortgage Refinancing Process A pre-approved mortgage will indicate to you the value of the home you may be eligible to afford, as well as the payments associated with various purchase prices. It can also guarantee your mortgage rate for certain period of time to protect you from possible rate increases. You are not obligated to the mortgage broker or the bank to whom you got the pre-approval for your mortgage. There is no cost associated with this either, so there are limited risks associated with getting a pre-approval. 3 Reasons You Might Want to Refinance Your Mortgage ...
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Steps to Lower Your Mortgage Rate For most people, their monthly mortgage is their biggest expense. While a home is also an important investment and one that serves you in many ways, it’s always wise to be mindful of opportunities to decrease your mortgage rate so that you can reduce the overall amount due. Is Refinancing Right For You? To secure a low rate mortgage, you may wish to refinance your mortgage. This can help save you money over the long run. Bear in mind that before you do this, you need to understand your refinance penalty and how this ...
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