When should you refinance?

By
Real Estate Agent with REMAX 100 White Plains

The conventional wisdom is that the interest rate should be lowered by
2% or more to recoup closing costs within two years. However, creative
and less costly new refinance programs mean that you can benefit even if
the rate is only lowered by around 1%.

The best principle to follow is to refinance your home if you can pay
back the closing costs in less time than you will be living in that home.
If your principal is high, even a small reduction in the interest rate will
pay off in long-term savings.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the world to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Tags:
refinance
mortgage
payment reduction

Comments 0 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the scissors to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the umbrella to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
6,877

Dion Rainey

Southern MD/Northern VA Homes
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clip to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: