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Home refinance rate
Home refinance rates is something to think about when purchasing a property.
If you wish to shorten the term of your mortgage, you might want to consider the option of home refinancing.
Let’s say when you purchased your property you took a 30-year mortgage and have already been paying it for the past eight years.
By taking up the mortgage refinancing, your 30-year term can be shrunk up to 10, 15 or 20 years, also saving you thousands of dollars of interest.
Additionally, if the home refinance rate is lower and monthly payment is unchanged, your equity will be built up more quickly, since most of the money will flow to the principal.
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