Should you refinance your mortgage?
That’s the question of the day! Word on the streets is the home loan interest rates are at historic lows so it’s safe to wonder if refinancing your home loan is in your future.
In order to determine if you should refinance your mortgage ask yourselves these questions:
1. Do you know your home’s value?
First and foremost, the most important aspect of refinancing is whether or not you have any equity in your home. Luckily, at this time, the Charleston market and home values are still on the rise. The best way to know your home’s value is to speak with a lender and discuss your personal needs. Homeowners with at least 20% equity in their homes will...