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Rules of Thumb for Refinancing
Refinancing your mortgage is a process that, if done at the right time, can save you a lot of money over the long-term. You should look into refinancing if you have a fixed-rate mortgage and your interest rate is higher than current rates, or if you have... More »
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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 ...


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 popular method of calculating the break-even period on a refinance is subject to ... Many loan officers use this rule of thumb, which completely ignores how ...


Many homeowners believe there is some magic rule-of-thumb for refinancing, such as the often-quoted two percent rule. I still see this "rule" mentioned all over  ...


Feb 5, 2018 ... In that case, you may think that refinancing should be a breeze. But it may not be that simple. When you refinance, you're applying for a new loan. Whether .... Rule of Thumb · Should You Refinance with Your Current Lender?


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 ...


Jan 16, 2018 ... Lowering the interest rate on a mortgage is the primary reason most homeowners refinance their home loan. Back in the day, the rule of thumb ...


Feb 14, 2017 ... The traditional rule of thumb (which you should use with sparingly) for figuring out when to refinance is a basic breakeven analysis.


May 17, 2010 ... The old rule of thumb was that you should refinance if you could get a rate that was 1 to 2 points lower than your current one. Well, the rules ...