Basics of Refinancing

Basics of Refinancing If you are seriously looking to lower your monthly mortgage payment, best option miğht want tó consider the Rofinancing %24 Incredible Benefits of Refinancing Increased cash flow You can pay for other debts Potential to switch to a different loan type Opportunity to access the equity in your home %24 Basics of Refinancing Interest Discount rate points Refinance Origination charge Loan term Criteria to assess refinancing application: What is debt-to-income ratio? 36% or less Percentage of income towards monthly debt Monthly income before taxes Debt to income ratio is the percentage of your monthly income that is spent on monthly debt payments. What is housing-to-income ratio? 28% or less Percentage of income towards monthly housing payments Monthly income before taxes Housing to income ratio is the percentage of your monthly income that is spent on monthly housing payments. Designed & issued in publie interest by - www.gertmartens.ca DOMINION LENDING CENTRES Piktochart I make information beautiful