I always work with my clients on an individual basis to help them make the best possible decision about refinancing." - Jason M. This is why I recommend an in-person consultation with a mortgage broker. But as the article also says, mortgage calculators do not always take all factors into consideration. The article talks about plugging your numbers into a mortgage calculator to get an estimate of what your payments might be if you refinanced. Ruedy, "There are many factors to consider when deciding whether or not to refinance. Ruedy, The Home Loan ArrangerĪccording to Mr. I always spend a great deal of time with each of my clients explaining how a refinance can result in significant savings." - Jason M. I strongly urge every borrower that is currently paying a fixed interest rate that is at least a quarter of a point higher than today's low rates to call me. "There are currently quite a few mortgage options that may reduce a borrower's monthly payment obligation significantly. The indicates that borrowers who do not want to opt for refinancing into a 30-year mortgage if they are already more than a few years into their current mortgage should consider refinancing into a 15-year or 20-year mortgage with a lower interest rate, or they should consider refinancing into a 30-year mortgage with a lower interest rate - and committing to making extra principal payments each month. Ruedy wants borrowers to understand the importance of refinancing while mortgage interest rates are still low.Īccording to the abovementioned article published on on Februentitled When it Makes Sense to Refinance Your Mortgage, "if you're a homeowner with good credit and a solid income, now might be an opportune time to refinance." The article also states that homeowners should "always shop around for your mortgage because rates - and fees - vary significantly from one lender to the next." Ruedy believes that many additional factors should also be used to make the decision. While the article offers many sound tips on how to determine an opportune time to refinance, Mr. Ruedy, also known as The Home Loan Arranger, agrees with an article that recently appeared on 's website which provides information to mortgage borrowers on how to determine when it's a good time to refinance. Denver, Colorado (PRWEB) Febru- Mortgage Banker, Jason M.
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