Learn More on Refinancing!
Is now the right time for you? Should you do a "NO COST" refinance? There are 3 questions to focus on when doing a refinance:
1. Home Ownership: How long have you had the current loan? (If over 10 years you may not want to refinance)
2. Interest Rates: Have they lowered enough to make a positive financial impact for your monthly payment? (If you are already between 3.25%-3.5% it may not be low enough yet to make an impact)
3. Recapture Time: Do you plan to sell the home within the next year? (If doing a refinance there are costs associated, how long do you plan to own the current home?)
This is a more formal video on refinancing and the power of interest rates with the 1% - 10% Rule in finance: