2006-09-02 21:31:26 · 5 answers · asked by rosesbloom7 2 in Business & Finance ➔ Other - Business & Finance
Now that interest rates are rising instead of falling, never. Unless you got a really bad deal the first time due to a low credit rating or something.
2006-09-02 21:34:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋
ONLY if necessary,& you have equity to cover the term of the loan.We actually refianced our home for business reasons. It was the 2nd time in 12years.To discuss your question ,please tell me why would you want to refiance your home? Is it that you need money? Click my photo useing it as an URL in this answer to access me further. BRIAN:>)
2006-09-03 05:27:30 · answer #2 · answered by TheMusicMan 2 · 0⤊ 0⤋
Avoid falling into the trap of refinancing your home unless you desperatley need the money for something else. Remember that you will be paying the banks more interest.
It is better to draw down your mortgage by paying more than the minimum repayment amount where your monthly repayments pay off the capital portion of your loan sooner. Refinancing means that you will start from scratch again where the repayment is mainly interest charges and very little capital repayment.
2006-09-03 05:35:23 · answer #3 · answered by boneslane1962 3 · 0⤊ 0⤋
depends on your financial position
2006-09-03 04:37:11 · answer #4 · answered by Anonymous · 0⤊ 0⤋
anytime you can get a better deal
2006-09-03 04:33:40 · answer #5 · answered by sllyjo 5 · 0⤊ 0⤋