Wondering if you should refinance?
Wondering if you should refinance?
If you've ever considered refinancing your current high-interest mortgage to take advantage of lower rates, then ask yourself this important question: "How long do I intend to stay in this house?" Refinancing is a good idea if you intend to stay long enough to make refinance fees worthwhile.
Usually, it takes a minimum of three years to fully realize the savings from a lower interest rate, given the costs of the refinancing. However, you may find that you can recoup the refinancing costs in a shorter time, if you choose to refinance a loan that is only 1.5 percentage points higher than the current rate.*
*Depending on rate and terms.
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Emial: Mortgages@TaxProsOnline.com
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posted by Victor Lloyd Smith @ 5:13 PM
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