Tips

There are many good reasons to refinance your home, but before making the decision to refinance, please review these tips and speak to your Affinity Loan Officer. For borrowers who are refinancing in order to pay off debt, the following tips will help you avoid creating new financial risks.

Refinance Tips:

• Make sure the savings outweigh the costs
• It is not necessary that interest rates be 1–2% lower than your existing rate
• Research your options
• Be wary of anyone who contacts you about refinancing or loan consolidation*
• Be careful of advertised schemes to save homes from foreclosure*
• Do not let debt collectors pressure you into refinancing
• Do not refinance low interest debts with higher interest loans

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*Remember that mortgages are a matter of public record. You may receive solicitations from many lenders advising you to refinance because they have access to your public title information.

Please note: HomeStreet Bank has a privacy policy in place to protect our customers and we do not sell our customers’ information.

Get a free, no obligation refinance evaluation.

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