There are a few reasons people refinance their homes…
– Get Cash Out.
– Lower Rate, Or Lower The Number Of Years Remaining On Their Mortgage.
– Debt Consolidation.
I want to talk about this last one for a moment. Current market rates are higher than they have been in a while, but it can still make sense to consolidate credit card debt.
Often the interest rates on these types of accounts are in the double digits.
A $20,000 balance on a credit card can have a minimum payment of $400 or higher. If you refinanced this $20,000 into a much lower interest rate mortgage the savings would be around $300 a month. …and some of you have much higher balances than $20,000.
We can all use extra cash at the end of the month, and if this is something you want to take a look at for yourself or someone you know, just shoot us an email or give us a call.
We will take a look at it for you.
That’s it for today!
Have a great day!
Brett
Do you need cash out of your home, but you don’t want to refinance the…
The bad news is that according to Redfin, 38% of U.S. renters don’t believe they’ll…
Are you planning to use a gift for the down payment or closing costs when…
Do you have investment property, and would like to pull cash out of your property?…
Do you need cash out of your home, but you don’t want to refinance the…
I wanted to let you know we have a 2% to 5% downpayment and closing…