The right time to refinance

By
Mortgage and Lending with WR Starkey Mortgage

The right time to refinance 

Isn't that the million dollar question we all wished we knew the answer to?  We can all acknowledge thathe right time to refinancet rates are low, but just like being in front of a slot machine, we get greedy. We want to be the big winner with the lowest interest rate. 

But while we are sitting on the fence waiting for them to drop we fail to remember that just as easily as they fall, they can rise.  What happens when they rise?  We decide to hold out thinking they will drop again to that rate that we should have secured at first missing out on the right time to refinance.

But they don't fall, they rise again and before we know it we get frustrated and do nothing, forgetting about refinancing all together.  So we all miss the right time to refinance and we all end up losing.  Not only do we lose the ability to refinance you but the service providers including appraiser, attorneys, and title companies lose. 

The biggest loser is you, the consumer.  You will be missing out on the right time to refinance by missing the lower rate and the monthly savings.  Another big loser is our economy.  How does the economy lose?  The potential savings you would have had saved montlhy would had somehow ended up in the hands of retailers.  When the retailer wins, we all win by having a stronger economy!The right time to refinance

So, when is the right time to refinance?   The right time is different for each individual client.  We would need to sit down and see how long you plan on being in your home.  How many years do you currently owe on your home.  Are you wanting to pay it off fast so therefore a shorter term suits your needs better?  That is why you need to work with someone you can trust that will look out for you, the consumer. 

Call our office if you would like to see what we could do for you.  Maybe right now is the right time to refinance for you.

Or click here to fill out an online application: TheRightTimeToRefinance

The right time to refinance

 

 

Posted by

Glenn Colley, Loan Officer                                                                                                         

 

gcolley@wrstarkey.com

www.glenncolley.com

NMLS #2146    

Views and opinions expressed on this site are not necessarily those of WR Starkey Mortgage

Comments (3)

Gay E. Rosen
Julia B. Fee Sotheby's International Realty - Larchmont, NY
As Real as Real Estate Gets!

Hi - my mortgage broker always suggests that there is at least a 1/2 point differential between your existing mortgage rate and the rate you are seeking.. Also, you shouldn't think of moving for the next 5 years.. as those closing costs be they for a refi or closing are all very similar!  Best, Gay

Sep 15, 2010 12:24 PM
Ruth Vogt
Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate. - Colorado Springs, CO
719-592-0855 www.ReverseLoansInColorado.com

There are certainly a lot of people out there that NEED to refinance! Especially when the original loan was a 1st and 2nd combo. Safety of a longer fixed term, and $$$ monthly savings!

Sep 15, 2010 01:00 PM
Glenn Colley
WR Starkey Mortgage - Carrollton, TX

Gay, refinancing isn't for everyone.  Has to make sense for each client.  thanks

 

Ruth, we all love a good monthly savings!!!  Thanks

Sep 15, 2010 02:42 PM