Purchasing a home is likely one of the largest financial investments a person will make, so it's important to start the process correctly and understand your options. Getting the right mortgage is just as important as buying the right house.
There are many reasons why refinancing your mortgage makes sense with your financial goals. Refinancing means paying off your existing mortgage with a new one, potentially with a lower rate, lower monthly payment or with cashing out your equity. Understanding the refinancing basics will help you determine if it's right for you.
Getting a mortgage pre-approval helps the home buying process go more smoothly and gives you an advantage when shopping for a home. If you're looking for a new home or simply to refinance, a pre-approval is a good start.