What to expect during your mortgage renewal - Which Mortgage Broker
Take advantage of early mortgage renewal in 2017 before rates rise: There is no black and white rule for mortgage renewal. Typically you have to wait for 6 months after you have refinanced.
From a borrowers perspective if the savings are good they would always love to refinance.
Most borrowers go for 30 years fixed which is the psychological rate as it offers stable monthly payment to the borrowers. However, they ideally refinance within two years. Like I said, there is no rule.
The bottom line is if I am saving then why not go for it be it FHA or conventional.
So if I did my mortgage 6 months back paying a cost of $ 4000 at 6% Fixed for 30 years. Now I have lest say 5.5% available. I understand that in long run it would save me lets say $ 50,000 but then I have to compare benefits and advantage of doing so vis a vis the cost that I incurred of $ 4000 just 6 months back.
The best would be to talk to an expert for help.
For more information visit www.affordable-payment.com or Call 323-705-3191 if you are a California Mortgage borrower or If Texas Mortgage Borrower call 713-463-5181 EXT 154
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