When it comes to refinancing your home, there are many supposed truths out there leading to inaccuracies on money saving mortgage options.
- You must have more than 2 points to lower your rate and make it worth your while.
In fact, no you don’t. Many factors come into play, not just the interest rate. Many can save money with as little as a 1/2% reduction in rate. - You need 20% or more down payment.
NOT TRUE! Many programs exist with as little as 3% down. - The market is unpredictable so I’ll wait.
Rates move unexpectedly all the time but there are many advantages to position yourself to strike a great rate through a plan. Set up a plan, It’s free with no obligation. When your plan calls for you to lock your rate, we will have you in the right position to make your move.