Savings Corner

APRIL 4, 2024

What is mortgage refinancing? Mortgage refinancing is when you replace your current home loan with a new one. Just like any other loan, you apply for refinancing, which includes a thorough check of your credit, income, employment history and finances. Ideally, you’ll also get a lower rate in the process.

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Savings Corner

APRIL 4, 2024

Key takeaways Refinancing replaces your current mortgage with a new one, adjusting the rate, term or both. With refinancing, you can change the loan type as well as your lender. Here’s how refinancing a mortgage works, the common options available to you and pros and cons to consider. What is refinancing?

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Savings Corner

APRIL 4, 2024

Images by Getty Images; Illustration by Hunter Newton/Bankrate Although interest rates aren’t as favorable as they were in recent years, refinancing might make sense for homeowners who want to pull out cash to renovate their homes. Steer clear of any lenders that push refinancing even if it isn’t financially advantageous for you.

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Savings Corner

DECEMBER 24, 2023

Bankrate’s AdvisorMatch can connect you to a CFP® professional to help you achieve your financial goals. But here’s the point: The plan needs to provide the path for you to meet your financial goals, including helping to motivate you. Need expert guidance when it comes to managing your investments or planning for retirement?

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Family Balance Sheet

OCTOBER 16, 2017

The spreadsheet listed our short-term and long-term account balances, our debts, and our short-term and long-term financial goals. We are working towards some pretty big financial goals and we’ve hit quite a few already. We refinanced multiple times during the hey day of low interest rates at various banks and credit unions.

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Family Balance Sheet

FEBRUARY 19, 2022

We have been in our home for over 20 years and I’ve refinanced for better rates at least five times, mostly for free. Create our family’s financial goals and Debt Freedom Plan. While our setup has helped us achieve many of our financial goals, we have made many mistakes over the years. Has it been smooth sailing?

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Prairie Eco-Thrifter

MAY 30, 2012

Not Having a Financial Plan Having clear financial goals helps you control spending and increase savings because you know where you are headed. When you don’t have financial goals , you risk spreading yourself too thin which exposes you to increased debt and financial disaster. So, have you made any of these mistakes?

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