refinance home mortgage loans: How Much Lower Should the Ineterest Rate Go From My Current Rate to Make Refinancing Worthwhile - 03/02/08 03:35 PM
Lately the interest rates for the best borrowers have dipped below 6%. I have a 6.875% interest rate. Is it in my best interst to refinance?
It doesn't matter if you are seeking Oregon Home Loans, California Home Loan Mortgage Rates or rates from anywhere in the country, you need to be saving over 1% on your mortgage in order to benefit from a refinance.
Having said that, one other critical factor is that your loan amount should be over $200,000. If it is less than that you should wait until the new rate is 1.25% below your present interest rate.
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Allen Sayble (First Priority Financial)

Allen Sayble

Ashland, OR

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First Priority Financial

Address: 821 Hillview Dr, Ashland, OR, 97520

Office: (541) 324-9623

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Serving Jackson County and specializing in Oregon Home Loans.



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