Tips for Selecting the Terms of Your Mortgage When Refinancing
If you need to cut back on how much you are paying for your home's mortgage each month, refinancing can be a great way to do it. When interest rates fall, you can get a new loan to use the lower interest rate instead of your current one. The big decision you'll need to make when refinancing is the length of your mortgage. With terms ranging from 10 to 30 years, you must consider the following things when making a decision.