Minnesota homeowners refinancing

By
Real Estate Agent with RE/MAX Results

Minnesota Homeowners Refinancing Again?   Think about it.

We're constantly bombarded by lenders to refinance our mortgage under a variety of programs. The volume of offers can almost make you numb to the rational consideration.

 

There are common rules of thumbs that homeowners and agents use such as not refinancing more often than every two years or there must be at least 2% savings from your previous mortgage rate may not always be accurate.  Rules like this are a cliché.  Only a discussion and analysis can provide you with the right information to make an informed decision.

The reality is that if you can refinance for a lower rate and you'll be in the home long enough to recapture the cost of refinancing, it should be considered. The costs of previous refinancing that haven't been recaptured by monthly savings may need to be added to the costs of the new refinance.

 

Refinancing may save you a substantial amount of money, especially if you're going to be in your home for a long time. It is definitely worth investigating. To get a quick idea of what your savings might be, call me.  I will be happy to help you determine what rate and programs might work best for you based on your situation.  15 minutes on the phone could save you a ton over the life of your loan.

Comments (1)

David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

Every family has different reasons to refi, a great way to save is to reduce your mortgage to a 20 or 15 year, if not that then pay 13 months each year. You can simple just add a little more to each months payment to achieve that if you like. Check out blog...

How to Find the Best Mortgages in Your Area.

Mar 02, 2013 04:46 AM