ABOUT REFINANCING YOUR HOME

When you refinance your house you are changing two things. First you are changing the interest rate that you pay now and second you are changing the length of the existing loan. Both of these will change your monthly payment. People refinance to change their interest rate and to take cash out of their house often to consolidate debts and to pay off high rate credit cards. 

Over the past year the Fed has increased interest rates. The probability is that you are paying a lower interest rate on your home now than would be available in the market. Therefore in most cases refinancing a house in this market today does not make much sense.

The only factor favoring a refinance today is that you may be able to take cash out of your house and pay off other obligations, such as credit cards that have a higher interest rate. If that is the case that makes economic sense.

We would be more than happy to analyze your situation. It all comes down to the net cash flow. If you would like to discuss your situation please give me a call. 480 970 0990