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Buying
REFINANCE
COSTS TO CONSIDER
LEGAL FEES
APPRAISAL FEES
Charged by your lawyer or notary (often called a Solicitor)
If a lender requests an appraisal of the property
CLOSING COSTS
PENALTY ON EXISTING MORTGAGE
BENEFITS TO REFINANCE
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Change your term- extend out your amortization to increase cash flow and lower payments
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Consolidate debt - pull out equity to clear up monthly payments and increase cash flow
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Take out cash for other purposes
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Refinance to buy another property
RENEWAL
COSTS TO CONSIDER
LEGAL FEES
APPRAISAL FEES
Charged by your lawyer or notary (often called a Solicitor)
If a lender requests an appraisal of the property
CLOSING COSTS
PENALTY ON EXISTING MORTGAGE
BENEFITS TO A RENEWAL
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Stay in your current amortization to keep on track with paying off your mortgage.
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lender may not require a penalty if you are at the end of your term
Renewal
Refinance
Credit is becoming increasingly important for not only getting approved, but for having access to best rates and products. Your credit report is simply a listing of your mortgage and consumer debt.
Construction
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