Refinancing a mortgage is when a borrower gets a better interest rate and loan term. A borrower can achieve lower monthly payments and if they qualify, use their equity to obtain money that can be spent by the borrower. There are several pros and cons of refinancing a mortgage and we can help determine if this is right for you. For more information on refinancing contact us today at (248) 537-9200.
*By refinancing an existing loan, the total finance charges may be higher over the life of the loan