|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
When is The Right Time to Refinance?
|
|
| |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Refinancing can be a great alternative to achieve specific goals.
There are several reasons to refinance your home:
• Lower the interest rate on your mortgage, reducing your monthly
payments and overall cost.
• Reduce the term or length of your loan, doing so can save you
thousands of dollars in interest.
• Provide a means of consolidating your debt.
• Draw on the equity built up in the home to get cash for a major
purchase or for children's education.
• Switch an adjustable-rate mortgage for a fixed-rate loan to have the
certainty of knowing exactly what the mortgage payment will be for the
life of the loan.
Refinancing to achieve a lower rate can result in monthly savings,
however, every situation is different. Some lenders offer reduced
fees or no points. Ask yourself a few questions which may help you
determine if you can save money:
• Can I lower my current monthly
payment?
• How much will I pay in refinancing costs?
• What will I still owe on the house?
• What am I currently paying each month?
• How much did I initially pay for the house?
There are other considerations too, such as, how long do you plan to
stay in the house. Most sources say that it takes at least three years
to realize fully the savings from a lower interest rate given the
costs of the refinancing. Itemize all the expenses of the refinance
and estimate your new monthly payments. Answering these questions can
help you to decide if you should refinance.
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Give us a call and we can advise you on which option will work
best for
you.
|
| |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
WA DFI LIC.# Pegeen Shean 510-LO-23408 / David Thorne 510-LO-23406
|
