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Useful tips & advice

Home Refinancing

Why do homeowners refinance and would it be smart for me?

Homeowners refinance to accomplish a variety of goals, but for one basic reason: to save money. To save money by getting a lower interest rate. To save money by using a tax-deductible loan (the refinance) to pay off non-tax-deductible debt. That's tax smart! People most commonly use a refinance to:

  • Convert a higher interest rate mortgage to a lower interest rate mortgage
  • Lower their cost of debt by converting non-tax-deductible debt, such as credit cards or car loans, to tax-deductible mortgage debt.
  • Convert an adjustable rate mortgage to a fixed rate
  • Consolidate a first and second mortgage into one lower-rate mortgage
  • To get cash for family needs/expenses (tuition, medical expenses, etc.)

The key point to remember in all these instances is a refinanced mortgage offers you tax-deductible borrowing (which effectively lowers your cost of borrowing). Is a refinance a smart move for you? To find out, try the calculators or call a YourHomeLoan.info Loan Advisor at 1-800-470-7567. You'll get our honest, objective opinion on what's most advantageous for you.

How do I apply for a YourHomeLoan.info Refinance?

The application process is quick, easy and you can do it online.

How soon will I know if my YourHomeLoan.info Refinance has been approved?
Once your application has been received you will be notified instantly!

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