Mortgage Refinancing Trade Points for a Lower Mortgage Interest Rate

Home Loans

Mortgage Refinancing Trade Points for a Lower Mortgage Interest Rate
(presented by www.refinance-refinance.net - mortgage lenders)

By Louie Latour

Nearly every mortgage lender will trade points for better terms or a lower interest rate. Whether or not paying points is in your best interest is another story. Here are several tips to help you decide if paying points when mortgage refinancing is worthwhile for you.

The decision to pay points when mortgage refinancing primarily depends on how long you will be keeping your home. If you stay in your home for at least five years you could benefit from paying points for a lower mortgage rate. Here is an example to illustrate how points save you money.

Suppose you

(Article continues below)

HOME LOANS ADVERTISEMENT

===========================================
For additional Mortgage Refinancing information
and resources visit Mortgage Refinancing.
(http://www.refinance-refinance.net)
===========================================

This entry was posted on Saturday, December 30th, 2006 at 8:22 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

Comments are closed.

Home Loans News

If mortgage rates keep up their current pattern of decline, the forced rate reduction allegedly under discussion at the Department of the Treasury may not be necessary. After showing a net loss of 23 basis points during November, the 30-year fixed-rate...(<a href="http://www.mortgagenewsdaily.com/12042008_Mortgage_Rates.asp">read more</a>)<img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=35686" width="1" height="1">