Refinancing 101: What you need to know

If you’re a homeowner, you know that property ownership comes with its upsides as well as its challenges. While owning a home is generally regarded as a sound financial decision that allows you to build equity and diversify your investments, mortgage payments can be expensive, especially when considering the other expenses of homeownership.

Just about every homeowner faces the decision to refinance their mortgage at least once during their loan. But what does refinancing really mean? And is it a good idea for you and your family? 

Read the full article in the Finances FYI section of The Seattle Times, sponsored by 1st Security Bank.