MGMT 3610 Lecture Notes - Lecture 17: Refinancing, Loan Origination, Title Search
4 Jan 2021
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Document Summary
Complete guide to refinancing your mortgage for 2020. Refinancing is a means of getting a better mortgage deal, in lieu of the old mortgage. It is generally done to get a better rate of interest and loan term. In this process, the customer is sanctioned a new loan based on his current creditworthiness and the old mortgage is closed using the fund of this new mortgage. This involves many factors which are unknown to a first time customer going for refinancing. This article will guide such people in getting refinance their mortgage loan easily. Upon refinancing your mortgage, you can get the following benefits : The total interest cost for the lifetime of your loan will decrease. If you have a floating rate of interest rate then the risk will reduce. The savings on instalments will give you some extra cash that can be utilized for some other works.
