Freedigitalphotos.net Benefits of refinancing Paying off your mortgage early: For example, if you go from a 30 year loan to a 15 year loan without a big increase in your monthly payment, you could save thousands of dollars in interest while quickly increasing the equity in your home. Increase cash flow: Obtaining
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What Are Closing Costs?
www.realtor.com Flickr.com Closing costs are the fees which are charged by lenders and third parties related to the purchase of a home. What exactly makes up closing costs? Below is a break down of the different components: Escrow/Attorney Fees: Some states require third party escrow companies handle real estate closings while
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