When Refinancing Consider Your Life Of Loan Costs!

December 30th, 2016

refinance-math-brian-martucci-getloans-blog-1Refinancing doesn’t save you money unless you calculate in the interest that you’ve already paid. Especially when you think you’ll own the house for the long haul or forever. If you pay $2,500 a month in principal and interest, you are going to pay $900,000 over the life of a 30-year mortgage. If you are 4 years into the loan and are going to refinance to a principal and interest payment of $2,800 you are going to save $200 a month, correct? Wrong! Read the rest of this entry »

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

August 30th, 2016

when-refinancing-makes-dollars-sense-brian-martucci-mortgage-lender-getloans

In a word, no. This is not possible. I wrote a blog back in 2011 in another feverish refinance market showing 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 the rest of this entry »

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Important Things To Remember When Refinancing

February 23rd, 2012

What do you do in order to remind yourself of things? Tie a string around your finger? Use a paper day planner? Do you use a software or online calendar? How about just using my blog instead!? I hear of many people getting sold a refinance, instead of making sure they are doing it for the right reasons. Below are some good notes to remember when thinking of refinancing.

Important Things To Remember When Refinancing Read the rest of this entry »

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