Archives for the 'Refinancing' Category
TWO VERSIONS OF A MORTGAGE REFINANCE
Had a thought regarding a recent post. Something I always like to point out to borrowers who inquire about refinancing.
Let’s look at my perspective. If we assume a loan amount of $300,000 and a current rate at 6.00%. The principal and interest payment would be $1,799. Principal and interest. Principal, assuming value stays the same [...]
Why Refinance Your Mortgage? Lower Payments?
Here is a post that demonstrates one reason to refinance: lower the monthly payment. If you compare the monthly payment (assuming the loan amount were the same, which it is not because, as we know, over time, the loan amount is being paid down), with a new, lower interest rate, the principal and interest payment [...]
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