mortgage simple definition: When is Refinancing a Mortgage a Good Idea?

When is Refinancing a Mortgage a Good Idea?

When is Refinancing a Mortgage a Good Idea?. NEW FHA Guidelines for Condos and Cash-out Refinance

When is Refinancing a Mortgage a Good Idea? video duration 10 Minute(s) 44 Second(s), published by Andrew Finney Team on 06 09 2019 - 15:59:50.

When we hear mortgage rates are going up or down, a lot of us may wonder if we should refinance our mortgage
Sometimes it makes sense, sometimes it Refinance to consolidate debt and invest in real estate! #refinance #mortgage #realestate #bankruptcy #loan Subscribe and hit the bell!

The Mortgage Update YouTube Channel link: APPLY NOW https://secure-apps.smartapp1003.com/206632/?loanofficerid=209743 FREE CREDIT SCORE The Mortgage Banker's Association says refinancing applications are up 180% from over a year ago
Interest rates are at their lowest in two years, so if you've New FHA Condominium & Refi Guidelines The FHA announced earlier this month (August 2019) some significant changes to guidelines for Condo purchases .

When we hear mortgage rates are going up or down, a lot of us may wonder if we should refinance our mortgage. Sometimes it makes sense, sometimes it doesn't. Let's help you answer the question when is refinancing a mortgage a good idea?
#WhenToRefinanceMortgage

In practice, I share with my clients to simply #JTAB = Just Take a Breath it'll be alright as we move forward together. Remember, FEAR = False Evidence Appearing Real. What's the best way to replace FEAR? With knowledge and you're doing that right now. Kudos!

What you'll learn:
1. Should you refinance your mortgage?
2. Is refinancing a house good or bad?
3. How to know when to refinance your mortgage!

NOTE: To adjust video speed for your listening/ viewing pleasure, please use the settings icon on the bottom right of your screen. It looks like a gear. =)

Timeline:
4 Common Scenarios
1. 0:54 - Scenario 1: When mortgage rates go down!

2. 2:01 - Scenario 2: Your home value has increased!

3. 4:01 - Scenario 3: Your credit score is higher!

4. 4:52 - Scenario 4: You have an adjustable rate mortgage (ARM) and rate are going up!

7 Ways to Figure out if Refinancing is Right for You!
1. 5:37 - Way 1: Calculate your break-even point!

2. 6:21 - Way 2: Use a mortgage refinance calculator!

3. 6:43 - Way 3: Don't forget to factor the fees!

4. 7:42 - Way 4: Think about the term (length of the loan) you want!

5. 8:01 - Way 5: Consider the timing of your mortgage refinance. How many years are left on your existing mortgage and will it really save you money if you refinance?

6. 9:06 - Way 6: Are you willing to put forth the effort?

7. 9:50 - Way 7: Know your credit score!

Thank you for watching! =)

Enjoy an amazing day!
Andrew Finney
#AndrewFinney
AndrewFinneyTeam

Disclaimers/ Credits:
At the time of production, Andrew Finney, S.0173260, is a real estate salesperson with King Realty Group in Las Vegas, NV.

Andrew's videos are his own and do not necessarily represent the views and/ or opinions of KRG.

The purpose of Andrew's videos are to educate you and help you make sense of the real estate process. If you have questions about home loans, real estate, taxes, financial advice, real estate law, insurance, professional trades, or any other services where you live, you are advised to reach out to the appropriate professional for further counsel about your own unique situation.

Video Inspiration:
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