Does refinancing make sense for you? Louviers Mortgage does a complete breakdown.
Channel: louviersmortgage
Date: 2011-12-20

Consumer watch: 8/9/2011

Should you refinance?  The general rule of thumb is that you should save at least 1% on your mortgage, but does that work from you.

We look at how much you will save monthly, vs how much it will cost you to refinance.  We also consider how long you plan to own the home and any major or upcoming events in your life, such as children's college tuitions, buying a second home, etc.

Reasons to refinance:
-lower your interest rate
-build equity faster
-change your loan program
-credit score change

What you should consider:
-interest rate
-points or fees 
-length of lock

If nothing else, now is definitely the time to at least ask your mortgage broker if refinancing is right for you.  Call Louviers Mortgage today at 302-234-4129 or toll free at 866-476-0642.