Mortgage Refinancing
How can I go about refinancing my mortgage without a large expense?
Terry Says
Is your mortgage rate above 7%? If not, then please don’t refinance — even to take money out of your home. Rates are higher now than most current mortgages.
But if your rate is above 7%, then you can investigate. There don’t have to be large costs to refinancing, as fees can be added to your loan, or you can “buydown” your rate — but stretch out the payments, and the amount of the balance.
It’s more complicated than you think. I always refer people to my friend Leslie Struthers at GuaranteedRate.
Leslie@rate.com. At least I know you will be in good hands!
