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At Denver Home Mortgage, we treat our clients with courtesy and integrity. We guarantee realistic, honest mortgage advice that achieves results. We will lead you on a course to home ownership. Our years of experience and notable expertise ensure that your home financing is in good hands.
Our consistent track record of uncompromising ethics instills confidence and trust. We use cutting edge mortgage technologies to ensure up to the minute information from the financial world. This allows us to respond quickly, and give you the most relevant mortgage information and perspective.
Denver Home Mortgage Tips
Some of the factors to think about is how soon you would be moving. Of course its hard to say what you going to be doing in a year. Let a lone 30 years down the road. But you will need to recover the money you spent on the refinance. An average refinance is probably going to cost around $4500. This is based on a mortgage of about $100,000 loan. So if you are going to move in 3 years and you lower you mortgage by 1 % and saved 75 a month. It might take 5 years to make your money back. So does it make sense if you are going to more in 3 years. In 3 years you are only going to save $2700. You would be down about $1800 on the transaction. So this would not be a good reason to refinance your loan.
But if you were planing to live in the house for the total of the 30 years. This would probably be the best $4500 you have spent. You would have saved a total of about $36,000. You still have to subtract the $4500 you spent on the cost of the refinance. You would have a total of about $31,500. That not a bad invest. So it can really make sense for you.
Denver Home Mortgage
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