Financial expert Rachel Langlois tells us why right now is the best time to refinance. First off, what is refinancing? Refinancing is when a person replaces their current mortgage with a new one that features either a lower interest rate or shorter term. When refinancing, the old mortgage is paid off when the new mortgage is obtained.
The best way to find out how much money you could be saving is to meet with a financial adviser. You can call any Cyprus location and meet with an expert for free. Cyprus also has a fun tool on their website where you can put in your information and see how much money you can save by refinancing. You can find that tool here.