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Is Now a Good Time to Refinace Your Home?

Is now a good time to refinance your home? Have you been thinking about refinancing your home?

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Need to Know

If you are considering refinancing your home, should you do it now? The answer may depend on what your current interest rate is. Interest rates have been hovering in the high 2s, low 3s. If you currently have an interest rate that’s higher than 4%, refinancing might allow you to keep some extra money in your pocket or invest it elsewhere.

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Refinancing is a great way to get out of debt, save money on interest and lower monthly payments. It’s also an excellent option if you want to take cash out for renovations, other projects or to purchase an investment property.

Funds

You can even use the funds from your refinance to pay off credit cards or student loans! Refinancing can also help you get rid of private mortgage insurance (PMI) if the balance on your loan is less than 80% of the value of your property.

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There are many reasons why people choose to refinance their homes, but it’s important that you know all the details before making any decisions.

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