When refinancing your mortgage,you should consider
A)the interest rates of the old and new mortgages.
B)the years you expect to remain in the home.
C)any prepayment penalties on the old mortgage.
D)closing costs of the new mortgage.
E)all of these.

Question

Quizplus · Accepted Answer

When refinancing your mortgage, you should consider all of the given factors. You need to compare the interest rates of the old and new mortgages to determine whether refinancing is beneficial in terms of saving money. The years you expect to remain in the home is also a crucial factor as it helps you to determine whether refinancing is worth it. Additionally, you need to check for any prepayment penalties on the old mortgage to avoid any charges for paying off the loan early. Lastly, don't forget to factor in the closing costs of the new mortgage to ensure that the total cost of refinancing doesn't outweigh the benefits.

When Refinancing Your Mortgage,you Should Consider