By Sean A. Kelly

If you are considering taking up a Chase mortgage refinance, you may want to learn more about it first before making the commitment. My buddy, Sam, shopped around for a great mortgage refinance loan before he decided on taking a Chase mortgage refinance plan. This is probably the best way to go before you commit to taking such a long term loan from a financier.

Even if you feel there is no need for you to take up a mortgage refinance loan now, perhaps you may need to reconsider that. Getting a mortgage refinance may just be what you need to give your finances an overhaul and save you some big bucks! That’s right. Refinancing may save you money, especially in the monthly repayments. Good ole Sam, the buddy I told you about, literally saved thousands and he is now making lower monthly repayments compared to his original mortgage before taking up a mortgage refinance loan. His savings are due to the lower interest rate he managed to get from the Chase mortgage refi loan he took up. Now, with some extra cash to spend each month from the savings he had made, Sam is really living the life he wanted.

He had chosen to take up the refinancing from Chase because the bank’s current interest rates are highly attractive and much lower than his previous fixed-rate loan. That’s not all, Chase is a well respected national lender and it is also one of the largest mortgage lenders in the US. They don’t only offer refinancing but also new home purchase loans, debt consolidation loans or even Chase reverse mortgage loans. Chase currently also has a new program that gives customers 1% cash back each month based on their scheduled monthly payment under its 1% Mortgage Cash Back program. You might want to learn more about Chase, its services and its products by checking it out.

Your next question may be whether it is a good time for you to take up a mortgage refi at this moment. Well, that’s a very good question and yes, timing is everything. While refinancing your mortgage is a good idea, choosing the right time to do it is also important. For example, if you have a fixed rate mortgage now, you can easily compare the rate with other rates offered in various refinancing programs by various financiers, banks or lenders. Let’s say the interest rate you are paying for your fixed rate mortgage is 7%. However, you find that the rates have since plunged and it is now around 5.5%. This would be a good time for you to start shopping around for a mortgage refinance as you could stand to slash your interest rates by 1.5%!

Now, if you have an adjustable rate mortgage (ARM) and interest rates are climbing, then you may want to look at getting a fixed rate mortgage refinance instead. However, before you do so, you will need to do some calculations to make sure that in the long run you are saving money instead of paying more. Sometimes, it is not only about the rates that you should be thinking of when considering taking up refinancing. You may need to take into account other factors too such as your credit score, your home equity and your debt to income ratio where the lender will assess your cash flow and ability to make the monthly loan repayments.

With these factors in mind, do learn more about it or get some third part help before you jump right in and blindly sign up for a refinance package regardless of which financier you decided upon.

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