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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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www.reenteam.com/WhentoRefinance

Have you ever heard the old rule of thumb that says you should only refinance if your new interest rate is at least two points below your current one? That might have been good advice years ago, but with the fact that refinancing has been costing less recently, it is never the wrong time to consider a new loan! A refinance is ...

www.sofi.com/blog/5-signs-time-mortgage-refinance

Jan 15, 2018 ... Historically, the rule of thumb was that home refinance rates had to be a minimum of two percent lower than the existing mortgage. However, the combination of larger mortgages and lower closing costs has changed all that. For a jumbo mortgage, even a change of .5 percent can result in significant savings ...

www.creditkarma.com/home-loans/i/when-is-refinancing-mortgage-worth-it

Dec 2, 2017 ... This is known as rate-and-term financing — when you refinance your mortgage for one with a lower interest rate, and one that usually has the same remaining term. So how much should mortgage rates fall before you consider refinancing? The traditional rule of thumb says refinance if your rate is one to two ...

www.pmc-pa.com/refinancing.html

The rule of thumb regarding the cost vs. benefit of refinancing is that you need a 1 % "spread" between your existing interest rate and today's current rates. For instance, let's say that today's rate for a 30-year fixed rate mortgage is 4.500% with 0 points. Thus you will need your current interest rate to be 5.500% or greater to ...

www.seacoastmortgage.com/howrefinancingworks

Refinancing pays off existing mortgages, may also pay some or all closing costs, and can even return equity (cash out) to the owner of the property. The "Rule Of Thumb" used to be that if you could lower your interest rate by 2% or more then you should refinance; THAT RULE IS NO LONGER CORRECT! It may make sense ...

www.firstib.com/refinance

Aug 28, 2014 ... Are mortgage rates lower now than they were when you first bought your home? As rule of thumb, it may make sense to refinance your mortgage if you can lower your interest rate by 1% or more – from 6.0% to 5.0%, for example. If you have a high mortgage balance, say $250,000 or more, you may benefit ...

www.fundingrmc.com/WhentoRefinance

Ever hear the old rule of thumb that says you should only consider refinancing if your new interest rate is at least 2 points under your present one? Maybe that was good advice several years ago, but as refinance costs have been getting lower, it could be time to look into it. Refinancing your mortgage loan has some benefits ...

jbnutter.com/blog/2016/cash-refinance-101

Mar 30, 2016 ... Remember, a cash-out refinance involves borrowing more against the value of your property than you were previously, so a lender is definitely going to want you to see good credit. And, the lower your FICO score is the more expensive the refinance will be. As a good rule of thumb, your FICO score should ...

www.cimginc.com/Refinance.html

with smart refinancing. Corporate Investors Mortgage Group, Inc. is a Mortgage Banker. However, unlike depository institutions, we are not a single source lender. We embrace a lending model which gives us the flexibility to offer our customers a variety of loan programs at competitive rates. We control every step of the loan ...