John DaviscloseAuthor: John Davis Name: John Davis
Email: john_l_davis@countrywide.com
Site: http://www.jeffadamsteam.com
About: See Authors Posts (2)

When rates fall, the question I always get is “Should I refinance my home”? Rates are reaching historic lows again and for many people this is a great time to streamline an adjustable rate mortgage into a fixed. Sounds pretty simple but it really depends on the client’s situation.

With rates dropping to their lowest point in 2 years, I think everyone should have a

Mortgage Check Up to see if their current mortgage is still meeting their financial needs. The most important aspect is to look at the cost to refi vs the monthly savings. A borrower may be able to drop their rate a point, but in some cases it may not make sense for the client to refinance due to an upcoming move, closing costs, appraisal/equity issues, etc. It is important for a lender to look at all these scenarios in a refinance transaction in order to make sure it is truly beneficial for the client and ultimately puts them in a better position financially.

John Davis
Countrywide
Mortgage Banker
404-461-3794

Popularity: 62% [?]

This entry was posted on Sunday, March 16th, 2008 at 11:05 am and is filed under Countrywide Home Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.