Refinancing is something many homeowners toy with time and again. They see that interest rates are lower so they wonder if they should refinance their mortgage or leave it as is and continuing making the higher payments. There are many reasons to go both ways – there is no right or wrong answer that is the same across the board. You have to weigh the different options that you have.

1. HOWTO
DETERMINE
WHEN
REFINANCING
MAKESSENSE

2. WHATAREYOURPLANS?
The first question is whether or not you plan on
staying in the home. If you are not staying, then
you might not need to refinance. Why incur
more closing costs and start your payments all
over again when you will sell the home in 2
years?

3. If you plan on staying, however, and you can
reduce the interest rate enough that it makes
sense to pay the closing costs because you will
recoup the difference in a short amount of time,
then refinancing might make sense.

4. WHATARE
THECOSTS?
Every loan has costs, some higher than others.
This is one thing you can control because you
can shop around with different lenders to see
the normal closing costs for you area.

5. Really weigh the costs of refinancing to
determine what the right choice is for you by
determining how long it will take you to make up
the closing costs in the savings you gain by
lowering your interest rate.

6. TAKEANOCLOSING
COSTLOAN
Every loan has costs, some higher than others.
This is one thing you can control because you
can shop around with different lenders to see
the normal closing costs for you area.

7. ASAFERLOAN
Another reason that it is a good idea to
refinance is when you refinance into a safer
loan. By safer, we mean an adjustable rate to a
fixed rate or a 30­year term to a 20­year term.
Generally, a fixed rate for the lowest term
possible is what is necessary to have a safe
loan.

8. BESTVASTREAMLINEREFINANCE
Finding the
vastreamlinerefinance.com is a one­stop shop
offering useful information about VA loans and
enabling customers to shop for multiple lenders.
CLICK HERE TO LEARN MORE

9. JUSTINMCHOOD
Information Provided by
He is Americas Mortgage Commentator
and has been providing Mortgage
commentary for over 10 years.

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