In the current low interest rate environment, there has never been a better time to refinance and save money on your mortgage.
By budgeting well and making the most of low interest rates, homeowners can quickly get on top of their finances and pay down their mortgages faster.
Here are three quick reasons to refinance:
- With interest rates at record low levels, lenders are offering very low introductory rates. If you refinance to a new loan, you could save yourself a significant amount of money each month that you could use to pay down your mortgage faster.
- Consolidating debts through refinancing, allows you to save money by avoiding the higher interest rates that come with things like credit cards or personal loans.
- Get a new loan product with and offset account. An offset account will save you interest and can speed up the process of paying down your mortgage.