Should I refinance if I plan on moving soon?
Most lenders charge fees to refinance a loan. So, if you plan to only stay in the property for a couple of years, your monthly savings may not accumulate to recoup these costs. Example: A lender charged $1,000 to refinance your loan that resulted in saving you $50 each month; it would take 20-months to recoup your initial costs. Some lenders will charge a slightly higher than average interest rate on refinance loans, but will waive all costs associated with the loan. This will depend on the interest rate on your current loan.
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We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 2147025
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TCI MORTGAGE
1120 Second Street Ste 112
Brentwood, CA 94513
Phone: 925 594 0955
turner.mortgage@outlook.com
NMLS#: 292068
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