We want to help you make more informed decisions.
Today, several benchmark refinance rates go down.
Both the 15-year fixed and 30-year fixed saw their mean rates drop. At the same time, average rates for 10-year fixed refinances remained unaltered.
Refinancing interest rates are constantly changing but exceptionally low right now. So if you are looking to refinance your existing mortgage, this may be the perfect time to secure a record-low rate.
Most insurance policies do not cover flood or earthquake damage as a standard item. These types of coverage must be bought separately.
Though insurance covers you for a risk, there may be a limit to how much the insurer will pay. Many policies limit the amount paid for stolen jewelry unless items are insured separately.
You will receive the replacement cost with less depreciation if you choose not to replace your home after being destroyed. That is what we call the “Actual Cash Value”.
Replacement cost is the money you will receive if your home is destroyed but only to the minimum of your coverage. Be sure your insurance is sufficient. That means that if your home insurance is for $150,000 and it costs $180,000 to replace it, you’ll only receive $150,000.
Your homeowner’s insurance will generally cover you for accidents that happen to other people on your property, including medical care, court costs, and awards by the court. However, there’s usually an upper limit to the amount of coverage provided – be sure your coverage is sufficient if you have significant assets.
Mortgage Refinance is the replacement of an existing debt obligation with another debt obligation under different terms. The terms and conditions of refinancing may widely by country, province & state, based on several economic factors such as inherent risk, projected risk, political stability of a nation, currency stability, banking regulations, borrower’s creditworthiness, and credit rating of a nation. In many industrialized countries, a common form of refinancing is for a place of primary residency mortgage.
👍 Saving on interest cost.
👍 Moving from floating rate loans to fixed loans or vice versa:
👍 Additional loan opportunity:
👍 Poor service of the existing bank:
👍 Change in financial status:
