“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run.
YOU’RE NOT TOO LATE.
For years now, we’ve been hearing that interest rates will be on the rise, and although there have been some small increases, you’re still in a great position to drastically lower your interest rate. The general rule is if your mortgage interest rate is more than one percent above the current market rate, you should consider refinancing.
IT’S NOT TOO TIME CONSUMING.
Don’t brush off refinancing just because it seems like a long and daunting process. An informational call with a lender to see how rates compare will only take a few minutes. There are also some programs for streamlining the application process. And besides, isn’t the amount of money you could save worth the time and effort?
ARMS CAN BE REFINANCED, TOO.
Seeing your Adjustable Rate Mortgage (ARM) increase after the introductory period can be incredibly stressful and place a squeeze on your budget. Many people assume they’re stuck, but ARMs can be refinanced, just like fixed-rate mortgages. You can even switch to a shorter term fixed-rate mortgage, such as 15 or 23 years. The longer you’re planning to stay in the home, the more sense it makes to look into refinancing.
Author:Emma Lefkowitz and Brian Tague Phone: 619-647-1739 Dated: July 29th 2019 Views: 1,280 About Emma Lefkowitz and: The Barron Team is a small and powerful team of professionals, led by Emma Barron Lefkowitz and supp...
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"Barron Real Estate Group – A vibrant team of welcoming, hardworking and caring professionals. We had the pleasure of working with Emma Lefkowitz and Brian Tague to close our home in Scripps Ranch, San Diego. Emma and Brian understood our needs completely and gave their honest opinion, pros and cons on every property that we saw. It was a great advantage to work with a local realtor who knew in and out about the Scripps Ranch area. Emma had great thoughts and valuable information regarding the community, schools, neighborhood, market value of the homes, comparables, loan process, home inspection, repairs etc. Anything you name it, Emma knows it. The team is available anytime and they are patient to answer phone calls and walk you through any process without any hesitation. They were not pushy or in a hurry to get us into a contract. Also the very first offer that we placed through the Barron Team got accepted amongst tough competition. Emma is definitely our go to person now when it comes to our new home. Who you work with definitely matters and were are glad to have found Emma and the Barron Real Estate Group."