verb
definition
To renew the terms of a loan.
noun
definition
One or more loans or other borrowings that repay and replace previous financings.
Examples of refinancing in a Sentence
It is a balancing act between the potentially huge savings over a 30 year mortgage vs. the large cost of refinancing.
The proceeds of the issue will be used for refinancing existing short term indebtedness.
A significant part of his work includes the refinancing and restructuring of agricultural businesses, advising landowners as well as banks and lenders.
Refinancing The decision to acquire an asset under a lease agreement or outright purchase is one which firms often face.
Dollars by refinancing not only does club agency inc.
By refinancing an existing mortgage, veterans or soldiers are often able to get some of their home equity back as cash that can be applied to pay down your debt.
In this option, you turn the equity in your home into cash by refinancing your existing mortgage for more than you currently owe.
Currently, 30 and 15 year mortgage rates are near record lows, which makes cash-out refinancing a very attractive option for people with sufficient equity in their homes.
Rates are currently as low as 4.375% for a 30 year fixed mortgage - which makes cash-out refinancing a very low cost borrowing option.
Refinancing your mortgage can help secure a better interest rate, lower monthly payments, or change the type of mortgage you currently have.
Then you may have to make a choice between refinancing the remainder of the debt or losing your home.
Whether you're are contemplating your first mortgage, refinancing options, or considering Home Equity Mortgage Loans, LoveToKnow Mortgages has the information you need.
Free mortgage calculators are valuable tools for anyone investigating a new mortgage, home equity mortgages, or just curious about refinancing or what their mortgage options may be.
Investing in a home is usually made possible with a mortgage, and many homeowners apply for home mortgage refinancing loans in order to obtain lower interest rates or lower monthly payments.
If you are expecting your ARM interest rate to increase, you should consider refinancing to a fixed-rate mortgage and steer clear of higher payments.
Generally, refinancing is done to lock in a lower interest rate or transform equity into useable cash.
Your house goes down in value, making refinancing impossible and requiring you to pay money on something that's worth less than you have to pay on it.
Interest rates go up, making refinancing impossible.
Industry experts often quote a standard drop of 2 points or more for refinancing to make sense.
A small rate cut may pay off when owners take advantage of lenders who waive the refinancing charges like appraisal, application, or legal fees.
Check with a tax preparer to investigate the exact rules on refinancing.
One more point is worth considering before refinancing.
If you have just started thinking about buying a home, refinancing, or you are in a cash crunch and looking for a way turn your home's equity into a solution, it may benefit you to visit a mortgage rate calculator first.
Refinancing mortgage rate calculators are a bit more sophisticated.
Often these penalties can negate the savings you may receive by refinancing and you can end up paying a higher interest rate for far longer than necessary.
For any person or family thinking about selling a house within the next five years that currently has a mortgage, refinancing may not be a good idea.
Refinancing costs money, and the amount of money that might be spent on refinancing a mortgage may not be recouped in less than five years.
Refinancing a mortgage is never free, even if the mortgage lender agrees to pay all of the closing costs.
There is a lot of paperwork involved with refinancing a mortgage.
If the amounts show a large difference, refinancing should be considered.
Many homeowners consider refinancing their homes or pursuing home equity loans to provide the necessary capital.
Whatever your reason is for considering refinancing, you will want to make sure you take the time to learn as much as you can about the process.
Though refinancing can make good financial sense for some, it can also hinder other homeowners by putting them further into debt.
Remember, by refinancing you are taking out a whole new mortgage to pay off the first.
If you aren't sure whether or not refinancing is a good idea, consider talking to a financial professional who will be able to discuss the different options available to you and the benefits and drawbacks to each.
Cash-out refinancing can give you the cash you need to make home improvements, pay college tuition, consolidate debt, and much more.
If you plan on taking advantage of cash-out refinancing, spend the money you get back at closing wisely.
Refinancing your home can provide real benefits.
It doesn't matter if you need a longer term or a shorter term, refinancing can help.
Make sure you are refinancing at the right time.
If you do not plan to stay in the house long, refinancing may not be in your best interest.
If you want to borrow cash from your home, consider cash-out refinancing.
By refinancing your mobile home, you trade your first mortgage in for a new mortgage.
The best part about refinancing is that the process is generally much simpler than obtaining a first mortgage.
There are many good reasons to consider refinancing your mobile home.
Refinancing your mobile home may or may not be a good idea.
Also keep in mind that there may be closing costs and other fees associated with refinancing.
The real estate market is so hot right now that refinancing a California mortgage could significantly benefit homeowners.
This can make refinancing very tempting.
Before refinancing, you will want to have your home appraised to determine exactly how much equity you have built up.