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Owning and refinancing

Buying your home is just the beginning. Understand what to expect as a homeowner, and how to get the most out of your home and your mortgage.

Homeownership and taxes
Owning a home can affect your taxes in multiple (and sometimes complicated) ways, and what you pay can change over time.

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How to pay off your mortgage faster
The more quickly you pay down your mortgage, the more you could save in the long run by paying less in total interest.

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Benefits of a mortgage refinance
Refinancing may have different advantages depending on your needs. Learn about the benefits and see if it's the right move for you.

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Understanding a cash-out refinance
The equity in your home can be a source of funds for renovations or other expenses. Cash-out refinancing is one way to tap into it.

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Three steps to safety-proof your home
As a homeowner, fixing damage or other issues can be costly. Follow these tips to stay ahead of potential problems.

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A new homeowner's guide to property taxes
Property taxes are one of the new financial obligations that come with buying a home. Here's what every new homeowner should know.

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Your guide to escrow accounts
Learn how escrow accounts are used to manage taxes and insurance payments through your mortgage servicer.

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Top questions about owning and refinancing

Homeownership can affect what you’ll pay in taxes. That includes having to pay property taxes, which are based on the value of your home and paid to your local government.

But property taxes, as well as the interest you pay on your mortgage, may be tax-deductible, meaning they may reduce your taxable income for your federal and state returns.

Consult with a tax advisor, accountant, or financial advisor regarding the impact of homeownership on your specific tax situation.

Home equity is essentially the difference between the value of your home and the principal amount you owe on your mortgage. If you have enough equity in your home, it may allow you to borrow money for home improvements or other expenses with a home equity loan or cash-out refinance.

Yes. There are costs related to processing any new loan application; they can include fees paid to third parties, such as an appraiser and the title company, and other closing expenses.

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Do you know what your home is worth?

Currently Wells Fargo customers can track neighborhood estimated home values, learn ways to increase the value of their homes, explore home improvement opportunities, and much more. Claim your home now to get started.

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If you extend your loan term, you may pay more interest over the life of your loan.

If you are a service member on active duty, an eligible spouse, partner, or dependent, or currently receiving SCRA benefits, please consult with your legal advisor prior to seeking a refinance of your existing mortgage loan. In some cases, a refinance may impact your eligibility for benefits under the Servicemembers Civil Relief Act or applicable state law.

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