Is Now The Best Time to Refinance?

One of the questions I’m most commonly asked regarding refinancing is …

“Would now be a good time for me to refinance?”

Although mortgage interest rates are still incredibly low there are several factors that should be considered in answering this question. First, you need to determine why you are considering refinancing. It may be to consolidate debt? Lower your monthly payment? Change from a variable rate mortgage to a “Fixed Rate” mortgage? Make improvements to your home? Or maybe to maximize your savings by taking advantage of these low interest rates? It may be any one or a combination of any of these reasons. Once you’ve determined what your motive is for refinancing then the most important part of the process begins, finding the correct loan program and the correct structure to help you most effectively achieve your goal. This is what separated the value of true mortgage consultant from simply an order taker.