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I’ve been making regular mortgage payments for several years, does it make sense to refinance and start the term over again?

April 26, 2017I’ve mortgage PAYMENTS Refinance regular sense

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I’ve been making regular mortgage payments for several years, does it make sense to refinance and start the term over again?

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The most important item on your mortgage note is the interest rate. You can control the term or how quickly you pay off your note. Many of our clients refinance to lower their interest rate, but then continue to keep making the original payment calculated at the higher interest rate. By doing so, our clients accelerate the pay off of their mortgage and save thousands of dollars in interest expense.