How to Know When It’s Time to Refinance Your Mortgage
There are many reasons to refinance a home including:
Lower your interest rate to reduce the monthly mortgage payment; Shorten the term of the loan to save possibly thousands of dollars in interest; Take cash out to consolidate other debts.
These are all great reasons to refinance your mortgage, however, a few items should be considered first. A refinance is very similar to when you closed on the purchase loan for your current home. You will need to submit and application, credit will be pulled and you will need to be approved by the lender. Once you are approved an appraisal will be ordered as well as a title examination.
As a general rule, it makes sense to refinance if you can get an interest rate that is at least one percentage point lower than your current rate. Every situation is different and there may be other reason besides lowering your rate that might make sense. For example, if the purpose is to take cash out in order to pay off high interest credit cards, than even if the rate stays the same, it’s possible to save money on your overall monthly expenses.
Questions To Ask Yourself:
How long do I plan on staying in this house after I refinance? How much lower could I get my monthly mortgage payment? How much will it cost me to refinance?
Once you have the answers to these questions, you can figure out if a refinance makes sense and when you will break even. Divide the cost of the refinance by the monthly savings and you will have the number of months it will take for you to break even after the refinance.
Keep in mind that you do not always have to start the clock over with a 30 year fixed. If you want to stay on track to pay off your mortgage around the same time as when you started, you can choose a shorter term mortgage. For example, if you are 5 years into a mortgage and rates improve, you can take a 25, 20 or a 15 year mortgage to stay on track or even shave off a number of years. A scenario like this could save thousands of dollars in interest over the life of the loan.
It is wise to ask the person who is handling your loan for a good faith estimate along with your mortgage rate quote. This way you can know exactly how much it will cost you to get the payment that is offered. Taking these calculated steps is necessary to know if refinancing now will make sense. Numbers don’t lie, so make sure you take the time to do the math correctly and have a clear understanding of your goals.
Mike Dell’Ovo is a licensed mortgage broker who helps borrowers achieve their mortgage goals. If you would like a no-obligation mortgage consultation and a rate quote for your next purchase or refinance, visit: http://www.MortgageWorkbench.com/contact.htm to contact Mike
What Is Your Home Value? Visit: http://www.LocalPropertyValue.com/ for your FREE Value Report
About the Author
Mike Dell’Ovo is currently a mortgage adviser for Mortgage Captain, LLC. in Medway, MA. Mortgage Captain, LLC is a retail mortgage broker offering all types of loans through unique relationships with top lenders.
Mike has been in the mortgage business since 2001 and has expertise with many loan products including conventional loans, 100% VA Loans, 97% FHA finanicing, reverse mortgage, investment property financing, foreclosure, and short sale financing.
Mike is also an experienced real estate investor who enjoys buying and remodeling property for profit. He enjoys to help and teach clients how to realize their real estate dreams and aspirations.
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You just met a really cute guy so you’re anxious to start texting him. Here’s how to send him sexy and funny texts to flirt and create stronger attraction.
FYI: My best advice to you is to wait until he texts you first!
Guys are wired to do one primary thing when they meet a girl they are attracted to – and that one thing is to chase them.
If you send that cute guy the first text, you’re going to mess around with his natural instincts. You will become the “chaser” and that’s a turn off.
Sooooo, here’s what to text a guy to be sexy and fun AFTER he texts you first
When that cute guy you just met does send you a text you want to flirt and be playful.
How do you that?
You want to remember something when you first met that he did or said or that he wore that you can tease him about. Bust on him in a playful way and he will remember you and think about you more.
No other girls he is texting will be smart enough to do this. They will sound predictable and boring. The more he thinks about you, the more he will want to see you again soon.
Let’s see a sexy, fun and flirty texting convo in action
Him: “Hey you looked really cute the other day”
You: “You did too. It is hard to imagine you are over 24:)”
You thought he had a baby face when you met him and you teased him about it. You’re going to tease him some more about his baby face. Let’s see if he can play back.
Him: “Hey!! At least I’m old enough to get into the clubs without a fake ID!”
You: “lol, Maybe that is why I have such a cute amazing figure”
Now you went back to play off his opening text about how cute you looked and playfully reminded him of what a hottie you are.
Him: “Yeah your calf muscles are really toned. But your arms could use some help:)”
He’s teasing back. You’ve got his attention.
You: “So you think you’re a personal trainer?”
Him: “I know a few good moves I can show you”
You: “Hey I got to go, text me later…”
Him: “R… are you okay?”
Him: “hello…”
You want to try and always end the convo first. Did you notice too in the text that You Didn‘t pull any punches at the end of the text? You left, leaving him totally off balance. He’ll be thinking, “Was she upset with me? Was my making fun of her arms a turn off? When does she want me to text her?”
You are totally in control and he’s going to have to step it up a bit to keep your attention. Guys find this very attractive because you are a challenge. The chase is on!
