DFY Blog/DFY Website/What Interest Rates Make Sense to Explore Refinancing?

What Interest Rates Make Sense to Explore Refinancing?

DFY Real Estate

As with any refinance, there are multiple factors to calculate and various ways to look at the math to see if it all makes sense. The interest rate is usually the first factor that is evaluated, so let’s start there.

As a general rule of thumb, you will typically want to investigate a refinance if current market interest rates are lower than your existing mortgage interest rate. So what are the numbers?

If your current primary residence has a loan greater than 4.25% then it may be a good time to investigate a refinance.

Investment properties have a few additional considerations, including your current loan to value. If your mortgage amount is less than 75% of the value of your home, and your interest rate is higher than 5%, you may want to investigate a possible refinance.

In other words, if your home is worth $230,000 and your loan payoff is less than $173,000, while your interest rate is higher than 5%, you may have a real shot at lowering your interest rate and increasing your monthly cash flows.

How do you know if you should investigate a refinance?

Copyright 2024 Done For You Real Estate USA
All Rights Reserved

590 Timpanogos Pkwy, Orem, UT 84097 - 801-204-9061
Done For You Real Estate USA

This site is not a part of the YouTube, Google or Facebook website; Google Inc or Facebook Inc. Additionally, This site is NOT endorsed by YouTube, Google or Facebook in any way. FACEBOOK is a trademark of FACEBOOK, Inc. YOUTUBE is a trademark of GOOGLE Inc.

In the nature of transparency and authenticity, we do make a special offer at the end only if you'd like help actually implementing these video ad tactics and strategies. Is it required? Absolutely not. Will you receive value & insight even if you don't want to speak together? 100% yes. Some people will take this training, implement it by themselves, and see breakthrough. Some people will see what's possible, and know that working together is just what they need to get results even faster. It's completely up to you but we hope that you'll at least participate in the free training, use it, and let us know what you think!

© 2024 Done For You Real Estate, USA LLC - All rights reserved