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Refinancing your condo — what you need to know

Condos offer plenty of convenience, especially for urban residents. In big cities, like the New York City — Jersey City metropolitan area where Stem Lending is based, condos are often the most common option available.

Refinancing a condo in the current low mortgage rate environment can help homeowners get out of higher interest mortgages. However there are gotchas to be aware of when refinancing the condo.