Greg Whiteside



refinancing your loan

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Should I refinance?

Many factors need to be analyzed to determine if refinancing is right for you.  The old 'rule of thumb' was to refinance once your current rate was 2% higher than your available new rate.  Yet, as with most things, life has become more complicated.  The factors I analyze include the intended time you expect to stay in your home, your current loan (type and interest rate) and your present equity position.  I am always happy to provide a complimentary mortgage analysis addressing your specific circumstances and needs.

​What costs should I expect?

In most cases, the closing costs associated with refinancing are included in the new mortgage, resulting in little to no money out of pocket.  With a traditional refinance, you should expect the upfront cost of an appraisal to determine the current market value of your property, roughly a few hundred dollars.