Another good reason that you may want to refinance your mortgage is to switch from a fixed to a variable mortgage!
Refinance form fixed interest rate mortgage to variable interest rate mortgage
If you have been locked in a fixed mortgage, especially a closed fixed mortgage [...]
Refinancing is one of the most popular mortgage products available. It involves breaking your current mortgage and setting up an entirely new mortgage in your name against the same property but not necessarily with your current lender and not necessarily with your current [...]
A fixed-rate mortgage, is a type of a mortgage is a fixed interest rate mortgage where the interest rate remains the same through the term of the loan (as opposed to a variable interests rate mortgage). This means that your periodic payment amounts and the time to pay of the [...]
A variable-rate mortgage or adjustable-rate mortgage (ARM), is a mortgage loan in which the interest rate varies periodically. It will generally change along with the overall prime lending rate. As the Prime rates go up, so will the variable rate and as the Prime rate goes down [...]
Secured lines of credit and home equity loans are some of the economical options if you are planing to renovate your home. In addition, you may also require a construction loan when building a new home. Most lenders we deal with are able to assist with such need.