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 efinancing is an important financial
 planning tool that can save you thousands
of dollars over the life of your mortgage.There are many questions in the process of deciding when and how to redfinance. When is it worthwhile? Should I pay costs? Points? Do I want a fixed or adjustable interest rate? For how many years should I refinance? Schubert Financial Associates can guide you through the mortgage maze and obtain the loan that is right for you. Many banks will tell you that you should refinance only when rates drop 1% or 2% below your current rate. But banks don't  want you to refinance, because they
make more money when you pay more interest! It may be worthwhile for you to refinance for a gain of ½% or
even ¼% if you are not paying any costs (keep reading to see how). By ratcheting down your rate you
are always paying the lowest current cost and don't have to worry about missing the market bottom. Banks don't
like this practice, but our customers love saving money, and we'd rather please our customers than the banks. Refinancing can often be done with no net, out-of-pocket expenses. You can accept a slightly higher interest rate so the bank will pay all of your costs. By not paying up front you can afford to refinance again for a smaller drop in rates. Or you can choose to buy down the rate by paying costs and points. Schubert Financial will help you weigh the options. Even when refinancing requires a temporary outlay of cash, you may qualify for a short-term, interest-free loan directly from Schubert Financial to cover the gap, so that you end up with no out-of-pocket expenses. If you plan to stay in your present home for a few more years, then refinancing may offer you long-term financial advantages. Get a current quotation on a home loan by using our convenient online form. |
Home financing... Refinancing
Did you know...? Paper money evolved in the 18th century in France. To avoid having to carry around a lot of coins, people and businesses began writing fiduciary notes that could be redeemed later. Over the course of a few decades, these notes came to be used more than the coins themselves! Noting their convenience, governments began issuing these notes as well, and paper money was born. |
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