How To Know When It's A Good Time To Refinance
All the headlines lately scream the same thing: INTEREST RATES ARE AT HISTORIC LOWS!!! Amazing, right? Well, it kind of is!! BUT, that doesn’t mean that refinancing is the right option for you. There are a variety of things that you need to consider before making the choice to refinance your home loan.
Refinancing is a super hot topic right now, and it may not be for everyone. BUT, I hope all this information helps you determine if it’s the right choice for you and for your long term money goals! If you need help getting started, and aren’t sure what your monthly budget should look like, download our free budget guide from the website. It’s my goal to help you make smart money choices, so you can make your financial dreams come true!
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6 comments
incredibleboy22 April 11, 2020 7:46 am
Can a cosigner refinance and become the primary and only owner?
Miguel H. April 11, 2020 7:46 am
Hi Lizzy, I’m into my condo 3 yrs now. Bought at 310k at 4.78% on a conventional loan, owe 287k, but have a PMI if $350 (ouch). I called my lender and asked if I could remove PMI using equity but was told the usual that I needed to be at 80% of loan. My goal here was to avoid a refi because I don’t think I’ll be here another 2-4yrs. Any recommendations?
My ultimate goal here was to save a little while my wife goes to school full time for a-little under 2yrs. We plan on tackling bills together once she starts working again and or possibly buy a bigger home.
Thank you.
Braulio Medina April 11, 2020 7:46 am
Super informative and well laid out. Thank you!
Cristian Henriquez April 11, 2020 7:46 am
I just bought a home. How soon after can you refinance to get out of PMI?
Oscar Altamirano April 11, 2020 7:46 am
I'll have Mayra send you our docs…thank you again!
Robin Abundis April 11, 2020 7:46 am
how to qualify for refinance loan? credit score does it matter?