Fannie Mae executive: Top 3 reasons why homeowners should refinance their mortgage
By Kelsey Ramirez
article
Fannie Mae recently launched a low-income refinance option for homeowners. Now, one of the company's executives explains why U.S. homeowners should consider refinancing now. (iStock)
Many homeowners are taking advantage of today’s low mortgage rates to refinance their home loan to get a lower payment or use the equity in their home. Homeowners are using refinance loans on their existing mortgage to lower their interest rates on their loan amounts, get out of their adjustable rates into a fixedrate mortgage, eliminate their mortgage insurance and much more. While some borrowers may be holding back, thinking they aren’t eligible for a mortgage refinance, one Fannie Mae executive says that's not the case.