Now that we have gone through an entire year of historically low rates, I wanted to talk a little bit about why people refinance. One obvious reason is to take advantage of these low rates to reduce your monthly payments and overhead. But even when rates were significantly higher, I still was very busy with refinances. If you have been a homeowner for any amount of time, but especially for multiple years, you may have experienced a significant gain in equity. And liberating this equity can empower us to do more investing and asset diversification. Here are some ideas on how to leverage your property in order to improve your finances:

• Consolidate or pay off your car loan, credit cards, and student loans.

• Cash out on some of the equity and purchase an investment property.

• Cash out on some of the equity and use the proceeds as a source for other investment opportunities.

• Cash out for education goals, home improvements, or other personal objectives.

If you’re interested in refinancing your home, contact me, and we’ll get started.