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为抵押贷款再融资 is a major decision that requires thoughtful consideration and planning. 在获得新的住房贷款之前, it’s important to take an honest look at your current financial situation, 你家里的资产净值, 你目前的月供, 你的抵押贷款期限, 以及可用利率.
为抵押贷款再融资 involves taking out a new loan to pay off the original mortgage on your home. Refinancing can help homeowners cash out some of their home’s equity, 获得较低的利率, 或者减少他们的月供. However, the process does come with added costs.
Is refinancing your mortgage the right choice for you? Here are a few questions that will help you decide:
Refinancing may save homeowners money over a long period, but it will likely have a detrimental impact on their budget in the short term. Refinancing a mortgage isn’t free, and numerous expenses will be added to the new loan. 学费最高可达4300美元, including the mortgage application fee, 检验费用, 调查费, 律师费和结案费, 贷款发放费, 产权search和产权保险, 物业评估费, 和更多的. These charges will be listed in the loan’s 关闭信息披露 应该仔细检查.
虽然 no-closing-cost再融资 may sound like a great idea, it will still cost you in the long run. This type of refinancing doesn’t add on closing charges up front. 而不是, borrowers are required to pay higher interest rates over the length of the loan, or closing costs are added to the total balance of the loan, 提高月供.
Depending on the current state of the housing market, refinancing your mortgage could dramatically lower your monthly payments and interest rate, especially if you’ve already paid off a large portion of your current loan. 再融资也会有所帮助 房主支付抵押贷款 off in a shorter period — a 30-year mortgage could be refinanced to a 15-year or even 10-year loan. 虽然 this may increase 你目前的月供, you’ll save significant cash by paying less in interest.
Refinancing also makes sense if borrowers wish to switch to a different type of mortgage. If they currently have an adjustable-rate mortgage, they may save money over time by switching to a fixed-rate mortgage, which maintains the same interest rate over the length of the loan. 借ers can even switch from a fixed-rate loan to another fixed-rate loan if they can obtain a better rate.
另外, if you currently have a Federal Housing Administration (FHA) loan that requires monthly insurance payments, 再融资可能会有所帮助. If you have significant equity in your home and your loan-to-value ratio is less than 80%, refinancing could eliminate private mortgage insurance payments (PMI) and reduce your monthly payments.
If you’ve already paid off a significant amount of your current mortgage, or you’re coming to the close of a 30-year fixed-rate loan, most of your monthly payments are going toward the loan’s principal amount. Refinancing at this point probably wouldn’t benefit you and may cost you more money in interest payments over time.
You also plan to remain in your current home for a certain period. This ensures that the money you save by refinancing will exceed the short-term costs. If you plan to relocate before this happens, refinancing may not be the best option.
Finally, take a look at how much equity you have in your home. If you owe less than the total value of your home, you have equity. This equity can be traded for cash that can go toward major renovations, 升级, 大量购买, 或者债务偿还. However, this could leave you with a higher loan balance. 房屋净值信用额度或 房屋净值贷款 也许是更好的选择.
Texas Tech Credit Union can help you explore refinancing options. Whether you’re interested in switching from an adjustable-rate mortgage to a fixed-rate loan or hoping to pay off your mortgage in a shorter period, 我们可以帮忙! 还有问题吗?? Talk to one of our mortgage experts today.
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