Re-Financing

By
Real Estate Agent with RE/MAX Agents Realty

Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.

You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges.

The biggest factor in your decision should be the length of time you plan to remain in your home. If you will be there for only a year or two, it may not pay to re-finance. If you will be in your home longer, re-financing could provide you with lower mortgage payments. Your Realtor can help you work out the numbers and can refer you to reputable lenders.

Posted by

Dallas Chambers

RE/MAX Agents Realty

Office:  770-922-7777 X316

Cell:     770-595-1541

Web: www.dallasc.remax-georgia.com

E-Mail:  dallasc@remax.net

Each Office Independently Owned and Operated.  All information deemed reliable but not guaranteed.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Georgia
Tags:
foreclosures
bank owned
short sales
first time homebuyer
homes for sale in conyers ga
homes for sale in covington ga

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
787,662
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Dallas, Great points.  The most important piece in a refi would be the monthly savings VS the cost to gain the savings.  You can not look at just the rate savings, because a smaller loan requires a much larger difference in rate to make sense than a larger loan.

Rates are still near 40 year lows right now, and will not be here forever!

May 06, 2010 04:01 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
137,947

Dallas Chambers

Ask me a question
*
*
*
*
Spam prevention

Additional Information