Our house is currently mortgaged for 10 years. By February of next year it’s already our fifth year. My wife and I are planning to refinance our mortgage if the interest is lower than the current one we have. We’re also planning to expand our house by taking additional loan, but that’s another topic to discussed in the future.

Are you behind on your mortgage

Advantages of Mortgage Refinancing

There are many advantages to having your mortgage refinanced.  Of course, the most important and obvious reason is the lower rate you’ll enjoy.  When applied at the right time and opportunity, having a mortgage refinanced can save you a lot in the long run.  However, since timing plays a crucial role in refinancing, it’s important that you understand the factors that can affect how successfully you can take advantage of it.  So how soon can a mortgage be refinanced and should you?

The right time
Getting a mortgage is not for sissies.  Read the rest of this entry