Real estate blog entries tagged with mortgage by Dion Rainey Southern MD/Northern VA Homes (REMAX 100 White Plains)

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Home : Blogs : Dion Rainey Southern MD/Northern VA Homes : Dion Rainey Southern MD/Northern VA Homes's Blog : Tag "mortgage"

mortgage: When should you refinance? - 04/15/10 10:53 AM

The conventional wisdom is that the interest rate should be lowered by2% or more to recoup closing costs within two years. However, creativeand less costly new refinance programs mean that you can benefit even ifthe rate is only lowered by around 1%.
The best principle to follow is to refinance your home if you can payback the closing costs in less time than you will be living in that home.If your principal is high, even a small reduction in the interest rate willpay off in long-term savings.
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Dion Rainey Southern MD/Northern VA Homes

Waldorf, MD

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REMAX 100 White Plains

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