Is it the perfect time to refinance?
Why refinance now?
Currently we are experiencing some of the lowest mortgage interest rates since 2012. Refinancing to a lower interest rate on your mortgage can cut hundreds of dollars from your monthly mortgage payment and result in tens of thousands of dollars in savings over the lifetime of your loan.
How much does refinancing cost?
Typically closing costs of refinancing can be anywhere from 0.75% and 1% of the loan, which can be thousands of dollars. If you don’t want to pay this expense out of pocket, you can always roll closing costs into the principal of the loan. While this means you would pay interest on the money that was rolled into the principal, it allows you to lower your payment without having to bring thousands of dollars to closing.
How do I start?
Reach out to us at Minteer Real Estate Team and we can help get you started.