SAN DIEGO, Nov. 27, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. The experts at Loan Love are consistently finding new ways to aid their readers with their mortgage loan issues by providing them with helpful home loan planning tips and strategies. One of the websites most recent additions is a helpful guide that gives refinancing tips for home loan borrowers.
The guide, titled "Refinancing Your Home Loan: 2-Minute Guide!", explains: "Today's interest rates remain at all-time record lows, and that means it might be a good time to consider refinancing your home loan, especially if you've had it for several years. Refinancing can help you get a lower interest rate or allow you to change the length, or "term," of your mortgage, making it more affordable for you. Of course, every homeowner's situation is different, and there are a lot of factors that can determine whether or not refinancing is the best choice for you. Here are a few guidelines to help you decide if refinancing your mortgage is right for you"
The article goes on to list some of the situations which could lead a borrower to consider a refinance. These situations include:
- "Interest rates have decreased.
- Your credit score has increased.
- You can handle a higher monthly payment.
- You intend to move in a few years.
- You want to get rid of private mortgage insurance (PMI).
- Your ARM is about to adjust."
The guide explains why each of these situations might warrant refinance consideration. The article then gives some information on the refinance process, so that those who wish to apply for one will be prepared.
To conclude, Loan Love says: "Today's lenders have made the refinancing process simpler than ever, and most loan approval decisions are made the same day you apply, which means there's no long, nerve-wracking waiting period. Take a good look at your situation, and if a refinance seems like it might make sense for you, go ahead and take the plunge: With the potential to save tens of thousands of dollars, it just might be one of the best financial decisions you've ever made."
For more information and tips on the refinance process, please visit LoanLove.com to read the full home loan refinance guide.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, [email protected]
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SOURCE LoanLove.com
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