I get asked this question all the time by previous clients & people that are referred to me.
With a refinance, below are the most important questions to ask yourself to see if it’s worth it.
- How much longer do you plan ton living in the home?
- What is the current value of your home… What do you think it would sell for if you put it on the market (hypothetically). The value determines the terms of a loan you can be offered, so its really important.
- What is your objective? Is it to have a lower payment? Take out money to invest back into your home or in something else? Get rid of mortgage insurance? Or some other reason?
All of these factors determine whether you are ready to take action & refinance! If you know of anyone that has questions regarding refinancing their home or possibly purchasing a new one, please feel free to give them my number: 619-929-0105.