What are the reasons to refinance your mortgage ?
- A change in market conditions (lower interest rates, a change in inflationary expectations).
- A change in the status of the borrowers (for example, restauration work in the house that allows for a monthly increase, family expansion, dismissal etc.).
- Options / mortgage plans modifications in order to choose a combination that suits your specific needs (for example, if you know the amount of cash inflows and outflows expected in the near future, plan and avoid fines).
- Increase or decrease the mortgage if funds are received such as an inheritance for example. You can remove part of the mortgage and shorten the duration or reduce the amount of the monthly repayment of the loan. Alternatively, if you plan to renovate, to buy a new vehicle or a bar mitzvah trip, you can also change your mortgage repayment.
You can shorten the period of the loan and save a lot of money, as well as reducing the monthly repayment and thus relieve stressful periods.
However, it is important to take into account all the factors and expenses that may arise (prepayment fees, file opening fees, etc.) in order to make an informed decision.
If you have any questions, contact us now for mortgage advices and details about your options.
Itay Mardix – Financial and Mortgage Advisor.
Phone number – 052-6007476
Office – 074-7419441
You can also visit us on our facebook page
Facebook.com/MardixFinance
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