With the Fed recently raising interest rates, many people have started to wonder if they should act on the refinance now or wait to see what happens with interest rates. If you are buying a new home, thinking about refinancing your mortgage, or just wondering where this is all headed, it is a good time to start crunching the numbers and examining the current mortgage you have in place. So, when is the right time to refinance? Side note: There is “Rule Of Thumb” – the rule of thumb really boils down to a math equation which I will lay out for you here in the article. Question 1: What Is This Going To Cost You? There is always a cost to refinance. Sometimes you will hear on television these deals that say no closing costs or no cost to refinance. What some companies do is simply roll those closing costs into the newly refinanced loan so instead of refinancing ...
Read More →When Is The Right Time To Refinance?
Jul 7, 2018
Posted
Featured Articles, Real Estate
Tagged Adjustable Rate Mortgage, cost to refinance, financial planning strategy, Have Home Values Gone Up Where You Live?, HELOC are not tax deductible, How Long Will The New Mortgage Last?, How Long Will You Live In The Home?, If you take a new 30-year mortgage, If you take an adjustable rate mortgage, oXYGen Financial, Ted Jenkin, What will be your monthly savings from the refinance?, When Is The Right Time To Refinance?, your smart money moves
Comments 0