arrow

Got a Home in Virginia?
Get Your Best Mortgage From Just 2.25%

Mortgage Refinancing: A Smart Move for You?

by


If you are considering refinancing your mortgage you might wonder if refinancing is the right decision for you.  There are a number of factors to consider when answering this question; refinancing a mortgage costs money, your lender will charge you fees during the process.  In order to make certain you are not losing money during the process you need to take this into consideration with your present mortgage.

» Mortgage Lender Spotlight «

Each month we showcase exclusive offers from top lenders
that can save you thousands of dollars on your next home loan.

Here is what you need to consider:

How long will you live in your home?  If you plan on moving within two or three years you may never recoup your expenses from refinancing the mortgage.  The longer you stay on the property, the more you will save from refinancing.

Does your present mortgage have a prepayment penalty?  If your current loan charges a penalty for refinancing you could lose any savings to that penalty.  Review your loan contract carefully to see if it includes this penalty.

To learn more about refinancing your mortgage and avoiding common mortgage mistakes, register for our free mortgage guidebook.

People Who Read This, Also Read:



{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: