Refis Surge as Interest Rates Dip
We’ve seen a surge in demand for refinancing in recent weeks, with 30-year fixed-rates dipping below 6%. Borrowers who purchased a home between 2022-2024 (when rates were much higher) may be able to significantly lower their monthly mortgage payment now.
Three questions a homeowner should weigh out when considering refinancing are:
* How much will I save?
* How much will it cost to refinance?
* Are the savings great enough to justify the cost?
We can provide you with a complete analysis on all these points, to help you decide if now is a good time to refinance.

Top Reasons to Refi
Most people refinance either to save money or leverage their equity. Here are some of the most popular reasons to refinance.
* Lower Your Interest Rate - Decrease the amount of interest you pay over the life of the loan, and lower your monthly payment. 
* Pay Off Debt – Use your home equity to pay off high interest credit cards or personal loans.
* Make Home Improvements - Got a big project in mind? Tapping into home equity puts instant cash at your fingertips!
* Change Your Loan Type - If you’re in an adjustable-rate mortgage, you may want to transition into a more predictable fixed-rate loan. 
* Eliminate Private Mortgage Insurance (PMI) – By refinancing, you may be able to reach a loan balance of less than 80% of the property value and eliminate PMI. Switching from an FHA loan to a conventional loan may also eliminate long-term PMI. 
I’m here to answer all your questions and help you create a mortgage plan for success! Give me a call if you – or your friends and family – need a mortgage professional that focuses on your goals.