Tis the Season for a Home Refinance 

Have you heard the buzz about home refinancing? This has been a hot topic with low mortgage interest rates and generally higher home values. Let’s talk about the reasons that you should be considering a home refinance. 

Save on Interest Payments 

Saving interest is by far the most common and popular reason for refinancing – and for good reason, too! Over the life of your loan, refinancing to a lower interest rate can save you thousands. There is also savings when you decrease the term of your loan. Before I refinanced in June, I had 27 years left on my mortgage – I refinanced to a 20-year mortgage. Having a shorter repayment period allows me to be out of debt faster and pay less in interest over that time. 

Remove Private Mortgage Insurance 

Private Mortgage Insurance (PMI) is applied when the borrower does not have the full 20% down payment at the time of purchasing. If you have a line item on your monthly statement for PMI, a refinance is an opportunity to reduce or totally remove that extra monthly charge. 

Reduce Monthly Payment 

Your goal may be to obtain the lowest monthly payment possible. A refinance will benefit you if your current interest rate is higher than the interest rate that you have available through a refinance.  

Take it from me: I didn’t think a refinance would be personally beneficial, but when I finally ran the numbers, I was impressed to find out that I could reduce the term of my mortgage while keeping nearly the same monthly payment.  

Check out the numbers. Don’t miss the opportunity. And if you’re not sure how to crunch those numbers, give me a call. 

Courtney Hunsberger 
Financial Advisor 

4 Village Park Drive, Suite 170 
Grove City, PA 16127 

Registered Representative offering securities through Cetera Advisor Networks LLC, member FINRA/SIPC.  Advisory services offered through Vicus Capital Inc., a Registered Investment Advisor.  Cetera Advisor Networks LLC is under separate ownership from any other named entity.