))
Why Refinance Your Home?
Archived series ("HTTP Redirect" status)
Replaced by: Gold Star Mortgage Financial
When?
This feed was archived on July 02, 2018 04:58 (
Why? HTTP Redirect status. The feed permanently redirected to another series.
What now? If you were subscribed to this series when it was replaced, you will now be subscribed to the replacement series. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 168228816 series 1326742
Content provided by Gene and Bernie. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Gene and Bernie or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Why would someone want to refinance their home? There are two main reasons. The first is to improve their cash flow. The second is to pay their house off faster.Unfortunately, it’s usually limited to either one or the other. Refinancing on behalf of cash flow is more frequent, and it’s something we see a lot with first-time home buyers who are only planning on staying in their home for five to seven years. Refinancing to pay off your house faster is a strategy we sometimes use with clients, too. For example, let’s say you’re at a 4.5% interest rate today and then six months down the line the interest rate drops to 4%. Some clients would be hesitant to take advantage of this change because they’re afraid that they’re going to reset the clock on their mortgage. My advice to them would be to refinance to the lower interest rate but continue to make the same payment they’re making at 4.5%. That difference in payment should allow you to shave an extra three to four years off the lifetime of your loan. If you can use lender credit to cover your closing costs, you can continue to use this strategy over and over, as long as rates continue to drop. If you’re looking to buy, sell, or refinance, feel free to give us a call or send us an email for a complimentary consultation. We hope to hear from you soon!
…
continue reading
25 episodes
Share
