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Refinancing
Refinancing can help save hundreds of dollars
each month, thousands each year and thousands more over the life
of the loan.
Lowering your interest rate lessens the amount of interest you pay
and, consequently, lowers your monthly payment. Refinancing your
mortgage can provide you with a monthly windfall of extra cash,
shorten the term of your mortgage and help you build equity faster.
A popular strategy in recent years has been to refinance a 30-year
mortgage with a 15-year mortgage. Decreasing the mortgage term from
30 years to 15 years reduces the number of mortgage payments required,
though your monthly principal payment will increase. (Some individuals
elect to shorten their mortgage term by making additional principal
payments periodically instead of refinancing.) The final refinancing
option, and the most ideal, is to reduce your mortgage term and
lower your interest rate.
Whatever your investment strategy is, Civic Mortgage Group will
strive to eliminate any guesswork on your part with regard to interest
rates, fees and charges, and terms and conditions on a range of
loans. We'll make every effort to ensure that the refinancing process
is hassle-free.
Click
here for information on how Civic Mortgage helps with refinancing!
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