Blog Category: Refinance boom

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Can I Refinance To A 15-Year Loan From A 30-Year Loan and Keep My Payment The Same?

 

In a word, no. This is not possible. I wrote a blog back in 2011 in another feverish refinance market. It showed the numbers on how you can’t shorten the term of your loan from 30 to 15 years without increasing your monthly mortgage payment. Those numbers bear repeating in the current interest rate climate and are below. Check out this hypothetical example: Read More

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The Refinance Boom is not Over? Refinance Your 30-Year to a 15-Year!

Actually, the refinance boom is indeed over. However, there are a fair amount of people that still need to refinance. For example, I know of many people who have excellent interest rates on their 30-Year fixed rate mortgages, and plan to be in their home for a long time or possibly forever. These people should consider giving up their low 30-Year fixed rate. They can get a still quite low 15-Year fixed rate and save a small fortune over time. Read More

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The Refinance Boom is not Over? Refinance Your ARM to a Fixed Rate!

Actually, the refinance boom is over. However, there are a fair amount of people that still need to refinance. The problem is that the people that have not refinanced when rates were low simply don’t realize that they should still refinance. The people that obviously needed to refinance have already refinanced, in some cases multiple times. There are many people left that can refinance.

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The Refinance Boom is not Over? Refinance Your Fixed Rate to an ARM!

Actually, the refinance boom is indeed over; however, there are a fair amount of people that still need to refinance. For example, I know of many people who have decided to move sooner than they imagined. I hear of consumers who thought that they would live in their homes for the long haul, but then due to circumstances that were a surprise to them, they have now decided to leave in the next few years. Read More