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www.thetruthaboutmortgage.com/the-refinance-rule-of-thumb

Mar 21, 2012 ... How Much Lower Should Mortgage Rates Be to Refinance? If you're considering refinancing your mortgage, you may have searched for the "refinance rule of thumb" to help you make your decision. Of course, there isn't a single refinance rule of thumb. There are numerous ones. And before we dive into ...

www.investopedia.com/ask/answers/09/refinancing-mortgage.asp

Nov 28, 2017 ... The typical rule of thumb is that if you can reduce your current interest rate by 0.75% to 1% or higher, then it might make sense to consider a refinancing move. The first step is to calculate your monthly savings should you do the refinance, for example: Suppose you have a 30-year mortgage loan for ...

www.lendingtree.com/home/refinance/should-i-refinance-my-mortgage-rule-of-thumb

Mar 21, 2016 ... Understand the mortgage refinance rules of thumb to figure out whether or not you should refinance your mortgage. Compare refinance offers on LendingTree.

www.fhahandbook.com/blog/when-to-refinance-rule-of-thumb

When does it make sense to refinance my mortgage loan? Is there some kind of rule of thumb to go by? That depends on your reasons for refinancing. If you're doing it primarily to save money, you can use the rule-of-thumb explained below. The basic formula is: Closing costs ÷ monthly savings = break even point.

www.mtgprofessor.com/A%20-%20Refinance/when_does_refinancing_really_pay.htm

But beware! The break-even period is not the cost of the new loan divided by the reduction in the monthly mortgage payment. Many loan officers use this rule of thumb, which completely ignores how rapidly you pay off the new loan as opposed to the old one. Borrowers following this rule would never refinance into a shorter ...

www.homebuyinginstitute.com/mortgage-refinance-9.php

Many homeowners believe there is some magic rule-of-thumb for refinancing, such as the often-quoted two percent rule. I still see this ... This refinance rule of thumb doesn't consider: (A) how much your closing costs are, (B) what your tax rate is, (C) how long you're going to stay in the home, and other important factors.

www.bankrate.com/finance/mortgages/old-mortgage-refinance-rule-is-outdated.aspx

Sep 20, 2010 ... The old rule of thumb that you shouldn't refinance unless the new mortgage rate is at least 1 percent less than the old interest rate isn't the best yardstick for determining whether you should refinance. The decision to refinance to capture a lower interest rate should be based on the after-tax interest savings, ...

homeguides.sfgate.com/percent-decrease-should-refinance-home-9485.html

The traditional rule of thumb is that it makes financial sense to refinance if the new rate is 2 percent or more below your existing interest rate. The new rate on a refinance must provide enough savings in monthly mortgage payment to justify the cost of refinancing. The secretary's webpage also notes that circumstances are ...

www.thebalance.com/refinancing-breakeven-and-more-315660

Feb 14, 2017 ... Using this rule of thumb, you may decide that you should refinance if you'll keep your loan for at least 20 months -- after that, you're ahead by $100 per month. Most people who use this approach suggest that it makes sense to refinance if your breakeven point is within two years or so, and that's not terrible ...