refinancing rule of thumb

When and How to Refinance a Mortgage — Mortgage Professor – The rule of thumb does not work for any borrower who is concerned with how long they have to pay, which should be every borrower. Combining the Refinance Analysis With Mortgage Shopping . The answers generated by refinance calculators are no better than the current mortgage prices the user must enter to make the calculators work.

Should You Bother Refinancing Your current mortgage rate. – If you’re considering refinancing your mortgage, you may have looked to the “refinance rule of thumb” to help make your decision. Of course, there isn’t a single refinance rule of thumb. A popular one is that you should only refinance if your new interest rate will be two percentage points lower than your current mortgage rate.

5 Reasons When You Should Refinance a Mortgage – Back in the day, the rule of thumb was to refi a mortgage when the rate had gone down by at least 1%. Today, a rule of thumb is not enough to make a decision. Instead, divide the cost of refinancing by the monthly interest you’ll save with the lower rate (adjusted for lost tax deductions).

Personal Business; Adjusting the Rules of Thumb on Refinancing – THE old rule of thumb was to refinance only if the interest rate had dropped at least two percentage points from the original rate. But that guideline did not always take into account length of residency, existing household financial needs or other factors. ”That’s bogus,” Mr. Zumpano said of the rule.

Use the 80/20 Rule to Maximize Your Financial Opportunities – In fact, the 80/20 Rule can be applied to the "rule of thumb" – your thumbs account for 20% of your. You can accomplish it by either refinancing to a shorter term mortgage or by keeping your.

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How to Refinance Your Mortgage – The Simple Dollar –  · An old refinancing rule of thumb says it makes sense to refinance when you’ll be able to get an interest rate that’s at least 1% to 2% lower than the one you’re currently paying. But many experts caution that this rule, though appealingly simple, discounts too many extenuating factors.

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With traditional refinancing, the most often cited rule of thumb is that the interest rate for your new mortgage must be about 2 percentage points below the rate of.

2% Rule of Thumb? The traditional refinance rule of thumb — that you must get an interest rate at least 2% below the interest rate you currently have — is often wrong. Why? Waiting for a two percent difference from your rate to show up in the marketplace can actually cost you money.

lease to own home process Rent-to-Own Houses in Atlanta, GA – – Sometimes referred to as a "lease option" or "lease-to-own agreement", this may come across as an attractive option for those who do not have the means to provide a significant down payment on a home. While there is no official standard rate or process for rent-to-own options in Atlanta, typically, the potential buyer pays an option fee.