Category: Property Finance & Mortgage

Refinancing refers to the method of getting a new loan on top of your existing loan. People consider refinancing for several reasons:

? To take advantage of lower interest rates ? To leverage their existing equity on their home to manage debt ? To have reduced monthly payments ? To shorten the span of their loan

How Does Refinancing Work?

When you know that you are in need of a housing loan, there are two things that will be your major concern - Will I get approved? What do I do to increase the chances of approval? While you will not know the answer to the first question until you are actually approved or denied, you can do something about the second question.