If you are currently paying off a mortgage in Tennessee, you may be able to lower the amount you have to pay each month or reduce the amount of time that it takes to pay off your loan by refinancing. When you refinance your loan, you have an opportunity to choose a different term length. You also may qualify for a lower interest rate, depending on your credit score, the amount of equity you have in your home, and other factors.
Before you begin the process of refinancing, sit down and decide what your ultimate goals are. Chances are, you probably want to lower your monthly payments. However, you should avoid the temptation to refinance with another 30-year loan...Read More