888-758-7649 or 516-466-2930

Commercial Division

Mortgage refinancing: The old rules no longer apply

Old Rules No Longer Apply — Refinancing

If interest rates fall below your current mortgage rate, refinancing may be a great idea. The old idea that rates must be 2 full percentage points below your existing loan is not true. A drop of as little as 1/2% could save you thousands of dollars.

 

A variety of loan terms, no-point rate options and lower closing cost loans have greatly decreased the rate difference needed to make refinancing profitable.

 

We as consumers spend substantial amounts of time trying to make our savings and investments earn more. One avenue which is sometimes overlooked is seeing how much we can decrease our debt payments. Since a mortgage is usually the largest debt we have, it pays to concentrate most on reducing that payment first.

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Silver Fin Capital Group LLC

11 Grace Avenue, Suite 408
Great Neck, NY 11021

NMLS ID: 12147

Commercial Division

 

Serving Connecticut, Florida,
New Jersey, New York & Pennsylvania

State of Connecticut: Department of Banking, Licensed Mortgage Broker Number 17302; State of Florida: Office of Financial Regulation, Mortgage Broker License MBR572; State of New Jersey: Department of Banking & Insurance, Residential Mortgage Broker License 0805907; State of Pennsylvania: Department of Banking & Securities, Licensed Mortgage Broker, License 98635; State of New York: Department of Financial Services (Institution A006520). New York Mortgage Broker Registration 208842.

Loans are provided by third-party lenders and are subject to credit and lender approval. Mortgage brokers are not empowered to make mortgage loans. We seek out the best loan program for your specific situation from our extensive network of wholesale lenders. Lenders pay our fees. In most cases there is no cost to you for services provided by Silver Fin Capital. Copyright © 2014-2022 Silver Fin Capital. Site design and maintenance by DesignStrategies.com.

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