To refinance or not to refinance? 🏡💸 It all depends on your situation! If you plan on moving in the next 2-3 years, it might not be worth it since refinancing costs money. However, if you plan on staying in your home and have had your loan for 3 years or more, a shorter term refinance might be a good option. If you have an FHA loan, compare the new payment with the current payment + PMI to see if it's worth it. Overall, it's best to refinance if rates improve by 0.5% or more and your out-of-pocket costs are minimal. Don't owe more on your house than necessary! 🙅♀️ #refinance#mortgage#loanofficer#realestate#homeowner
To refinance or not to refinance? 🏡💸 It all depends on your situation! If you plan on moving in the next 2-3 years, it might not be worth it since refinancing costs money. However, if you plan on staying in your home and have had your loan for 3 years or more, a shorter term refinance might be a good option. If you have an FHA loan, compare the new payment with the current payment + PMI to see if it's worth it. Overall, it's best to refinance if rates improve by 0.5% or more and your out-of-pocket costs are minimal. Don't owe more on your house than necessary! 🙅♀️ #refinance #mortgage #loanofficer #realestate #homeowner