Refinancing: When and How

Refinancing: When and How

The best time to refinance your home mortgage is when you are reducing your monthly payment at minimal cost. How much would your actual payment be reduced each month? How much will it cost you to get the lower payments? We're here to help you make the best decision for your unique circumstances.

Reasons to Refinance
There are many benefits to refinancing your existing mortgage.

How Does Refinancing Work in New Hampshire?
To refinance is to get a new mortgage that's better than the one you have now. The new mortgage is used to pay off your old mortgage. The process of refinancing is similar to when you purchased the home only easier and less expensive.

Get Rid of PMI
If you obtain a conventional home loan and make a down payment of less than 20 percent of the purchase price, you may have to pay for private mortgage insurance (PMI). PMI is a type of insurance policy that reimburses your lender if you default on your mortgage. There are ways to avoid PMI and in this article, we share them with you.

Interest Rates Dropped - Should I Refinance?
Refinancing your mortgage loan can save you up to hundreds of dollars per month. When interest rates drop, it's especially tempting to refinance. How long should you wait?

A Guide to Lower Interest Rates in New Hampshire
You can SAVE BIG if you understand a few basic economic principles and how they relate to you.

Home Equity Advantages
Home equity is the most significant source of wealth for many homeowners. Find out how to make your home equity go to work for you.

How Your Divorce Affects Your Mortgage
Ironically, it is much harder to break a mortgage loan contract than the marital one. Even so, there are options that can benefit all involved parties.

FannieMae Guide to Refinancing

FannieMae is a quasi-government agency that supplies mortgage lenders with access to money and resources to help buyers achieve their homeownership goals. Its comprehensive consumer guide to refinancing is available online.

For additional information on refinancing your existing mortgage, call Charley Farley at (603) 471-9300 or e-mail charley.farley@weloannh.com.

Compass Mortgage Inc. - 172 Route 101 - Bedford, NH 03110-5416
Office Phone: (603) 471-9300 Fax: (603) 472-8811 Toll Free Phone: (877) 211-5300

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