Home Loans... More than just a rate.
Posted On: January 4, 2021 by Prevail Bank in: Home Loans
Rate or interest is simply a percentage of the loan a lender charges to borrow money. This figure is beneficial to know so you can compare the cost of different lenders. To make the comparison easier, lenders must also inform you about how that interest rate will affect your payments over an entire year. This interest is known as the Annual Percentage Rate or APR, and it also includes any fees or additional costs associated with the loan.
Lower isn’t...
Should I Refinance?
Posted On: November 30, 2020 by Prevail Bank in: Banking, Community, Home Loans
When deciding if refinancing your home loan is the best option, you will need to consider all necessary information to make an educated decision. Other than whether you can receive a better mortgage rate, there are many reasons people refinance their mortgage. Some of these reasons should have a higher priority than others.
When looking at refinancing, you should ask yourself these basic questions to determine if refinancing is right for you at...
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