Refinance Mortgage Loan

Question: Will getting a refinance mortgage loan help me save money?

(Posted by: Ackerley D on 2008-01-03 02:28:52)

Posted by: Serge M on 2008-01-03, 02:32:31

Yes if the terms of the new mortgage are better than the terms of the existing mortgage, and taking into account the costs of refinancing. You can decide that only be evaluating the mortgages available to you and comparing with your current mortgage. Normally, a refinancing is not feasible unless the new interest rate is about 1 percent point lower than the old rate. But other factors have to be taken into consideration.

Posted by: Dancock D on 2008-01-03, 02:38:41

It can help you save money if you do it the right way. Make sure that you've done some computations before getting one. You can take a look at whataboutloans.com/ mortgage/ mortgage-refinance-loans.html to know more about this.