• 22Jul

    Refinancing Your Home In Fort Worth or Elsewhere

    Residential

    If you have a standing loan with an interest rate over 6% you really should think about refinancing. Times simply haven’t been better for adjusting a loan in about the past four decades. But refinancing is something that most people know they should do and simply don’t put in the effort to actually follow up on. I would highly encourage you to do this while rates are still low.

    Here are the top six things you should consider when refinancing your home:

    1. Don’t start with the national companies you see on TV (think LendingTree).
    2. Do start with someone that has a local or regional office. Call a trusted real estate broker, and ask for a list of people they deal with. That will always be your best bet.
    3. Consider whether or not you are going to be in your home for another three years at least. It is preferable if you know you will be there longer.
    4. Try to avoid any company that wants to charge you any points up front. It is generally an unnecessary cost, which you can avoid.
    5. Take your credit rating into consideration. Times have changed.
    6. Know ahead of time that you will be negating some equity you have built up over the years.

    In any case, if you can do this now you absolutely should. Take advantage of it now and you may really be thanking yourself later. Furthermore, you are generally helping the national economy, and saving yourself some money at the same time.

    I am not a real estate agent, and I don’t work in the mortgage industry. I have absolutely no dog in this fight, and I am not trying to sell you anything. I just know that some people simply lack the momentum to just get the process rolling. See the Star-Telegram article I linked above.

    Posted by FWRE @

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