Refinancing Your Mortgage: Pros & Cons

Refinancing Your Mortgage: Pros & Cons

The goal of refinancing a home loan is to obtain a lower interest rate. A lower interest rate means a lower mortgage payment, allowing you to save on interest paid over the life of the loan.

It all sounds great, right? Well, don’t jump the gun. There are both benefits and drawbacks behind refinancing. With help from our friends at North Pacific Mortgage in Bothell, WA here is a list of pros and cons to consider before refinancing:

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