While the answer varies based on your personal finances, a pre-retirement refinance is a great way to ensure you enter your golden years with your home loan financed at the lowest interest rates in history.
If you have the option to refinance, especially if your house is underwater (your house is worth less than the mortgage amount), you should go for it. And if you are able to refinance, there are some important reasons to do it before you leave the job market for good.
Lowering your monthly payment is one of the best ways to stretch your retirement budget. You’ll have more money to put toward discretionary expenses, and some of the cash you planned to use for mortgage payments can be reinvested into your retirement accounts or invested through non-qualified brokerage accounts.
You have a far better chance ofRead More »from Reasons to refinance before you retire