“Real Estate SMART” Be Ready to Refinance

Joyce Murphy Realtor Be Ready to Refinance when rates hit the magic mark. Often the dip in the interest rate only lasts a few hours. Ask your mortgage broker to update your file and alert you so you can lock in fast.  Refinance properties with balloon payments and those you plan to hold long term.

How will you know the rate is magic? Use a mortgage calculator to look for an interest rate that will reduce your payment at least $200 per month and recover the closing cost within 2 years. All things are relative, so if your home is in the Luxury price range, the savings should be even greater.

It is a good habit to ask your mortgage professional to up date your file every year when your work on your tax return. Ask if there are flags in your credit that might make a loan cost you more, and how to resolve those issues. You annual mortgage check up is a good time to learn how Fanny Mae’s risk based pricing will affect your loan.

You do have a professional mortgage broker don’t you? Do you have a team of professionals including a doctor, lawyer, stock broker, insurance agent and accountant? Add a mortgage professional and Realtor to that team. They will help you safeguard some of your most valuable assets.

E-mail SMART@JoyceMurphyRealtor.com and type “Loans” in the subject line for more information. 

Joyce Murphy Realtor 808-443-4302
www.JoyceMurphyRealtor.com  www.KonaBigIsland.com

Licensed Broker Hawaii and Florida

2 Responses to ““Real Estate SMART” Be Ready to Refinance”

  1. [...] North Kona Home Sales » “Real Estate SMART” Be Ready to Refinance [...]

  2. [...] and other real estate services. Previously known as Homestore.com. Mortgage Broker Leads Florida “Real Estate SMART” Be Ready to Refinance – blogs.alohaliving.com 01/18/2009 [ Joyce Murphy Realtor] Be Ready to Refinance when rates hit [...]

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