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Old Rules No Longer Apply
If interest rates fall below your current mortgage rate, refinancing
may be a great idea. The old idea that rates must be 2 full percentage points
below your existing loan is not true. A drop of as little as 1/2% could save
you thousands of dollars.
A variety of loan terms, no-point rate options
and lower closing cost loans have greatly decreased the rate difference needed
to make refinancing profitable.
We as consumers spend substantial amounts of time trying to make our savings and investments earn more. One avenue which is sometimes overlooked is seeing how much we can decrease our debt payments. Since a mortgage is usually the largest debt we have, it pays to concentrate most on reducing that payment first.
A variety of loan terms, no-point rate options
and lower closing cost loans have greatly decreased the rate difference needed
to make refinancing profitable.We as consumers spend substantial amounts of time trying to make our savings and investments earn more. One avenue which is sometimes overlooked is seeing how much we can decrease our debt payments. Since a mortgage is usually the largest debt we have, it pays to concentrate most on reducing that payment first.
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RPM Mortgage 8150 Greenback Lane, Suite 300 Fair Oaks, CA 95628 Phone (916) 725-9902 Fax (916) 725-9908 State Licensing Information |
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