So, is it the right move to go ahead with a mortgage refinance? It depends on your situation. A mortgage adviser would be able to explain all the details, but here’s a quick rundown.

Pros:

  • Cash out equity
  • Lower Interest Rate
  • Converting an adjustable rate mortgage to a fixed rate mortgage

Cons:

  • Applying for a new mortgage
  • Low-Ball Appraisal
  • Refinancing Costs