should i refinance my mortgage rule of thumb

Get informed to make most of home refi – KNOW WHAT YOU’LL BE SAVING The old rule of thumb was that your rate should drop two percentage points for a refinance to be worth it, but that doesn’t always apply, Adamo said. If you can recoup.

Should You Refinance? The Rule of Thumb Has Changed – CBS News – Here’s my new 2009 rule of thumb: Don’t focus solely on how low interest rates are. Instead, take a look at what you’ll be saving and how quickly you can pay off the cost of the refinance .

home refinance with bad credit Home Refinance Loans For Bad Credit – Home Refinance Loans For Bad Credit – Save money and time by refinancing your loan online. visit our site to view your personalized rate and loan term option. distance between you and the drivers ahead and behind should give you some leeway.

Points for Mortgage Savvy – If you’re shopping for a new loan or thinking about refinancing your mortgage. If you’re taking a mortgage for $200,000, one point is $2,000. A general rule of thumb that you’ll find (with lots of.

Per diem interest charged in refinance – My new mortgage’s first payment was due May 6, 2010. My question is, should I have been charged. message whether there was any overlap. A good rule of thumb to minimize the overlap is to not close.

no closing costs home loans FHA Requirements: Closing Costs – FHA Requirements Closing Costs and Allowable charges. fha requirements: fha loan Limits. fha mortgage insurance. Your Loan Checklist.. Think about the non-FICO score aspects of your new home loan for a moment-the loan-to-value ratio, the amount of your down payment, and your debt-to-income.

Your maximum mortgage payment (rule of 28): The golden rule in determining how much home you can afford is that your monthly mortgage payment should not exceed 28 percent of your gross monthly income (your income before taxes are taken out). For example, if you and your spouse have a combined annual income of $80,000, your mortgage payment.

Using this rule of thumb, you may decide that you should refinance if you’ll keep your loan for at least 20 months — after that, you’re ahead by $100 per month.

An upfront fee paid to the lender in exchange for a lower interest rate. One point is typically equal to one percent of your loan amount. Prepaid interest. If you close on your loan in the middle of the month, your lender will collect interest on your loan from the closing date until the end of the month.

should I refinance my mortgage for an 4.75 rate from a 6.0. – should I refinance my mortgage for an 4.75 rate from a 6.0. Garysnober. Posted on: 31st mar, The general rule of thumb is if it goes down a point or more. If you want to help pay off debt, car loans, etc, then it is also smart as this will probably be the lowest interest rate you will have.

refinance arm to fixed Should You Refinance Fixed or ARM? – Guaranteed Rate – The answer: it depends on your goals. Take a minute to establish your refinance goals. Do you fall into the two below categories? 1. You’re a homeowner who needs a jumbo loan and you want to keep your payments as low as possible. 2. You’re a homeowner with firm plans to sell your home in a few years due to either job transfers or retirement.

Refinance – Corporate Investors Mortgage Group, Inc. – By refinancing, you can lower the amount of interest you pay on your existing loan and lower your monthly mortgage payments. A historic "rule of thumb" is that it is worth the cost of refinancing if you can reduce your interest rate by at least 2%.