Interest Rates Are Low! Should I Refinance?

 

Interest rates are dropping lower and lower every day. Does it make sense for you to refinance? Let’s find out.

How Much Can I Save?

The #1 reason homeowners refinance is the get a lower rate and a better term. With interest rates at historic lows, chances are excellent to save money by refinancing right now. How much you can save is all relative to a few things:

  1. How much equity is in your home

  2. Your credit scores

  3. If you want to change your loan term

  4. What your interest rate is

  5. How much debt you owe

  6. What your income is

Basically, there are a lot of factors that come into play and no magic 8 ball that will perfectly predict your scenario.

If you are interested in knowing more call The Ben Lemon Team. We are thrilled to help you! Plus, it only takes less than 10 minutes to go over your options.

What Documents Do I Need to Gather?

If you have these items on hand prior to your call, it will make the process much smoother. Just like a new home loan, you will need to have:

  1. 2019 & 2018 W2s / 1099s

  2. Last 30 Days Paystubs

  3. Last 2 Months Bank Statements

  4. Photo ID

Refinancing is a fantastic solution to save some money or even shorten the life of your loan. Plus, it only takes 1-2 weeks to close. Ready? Let’s do this.

 
Latest, Refinance, First Time Home BuyerBen Lemon