Refinancing | Home Loan | Closing Costs | Your Expense
Considering a Refinance
There are a number of reasons for refinancing your home. One is to borrow more money and put cash in your pocket. Another reason is to do a Reverse Mortgage and eliminate your monthly mortgage payment
01-07-22. The current prime lending rate is 3.25% and Real Estate experts predict that home prices will increase by 5.5% in 2022. The overtime, national average, of home price increase is 4.0%. Be reminded that if you ever decide to refinance the fee’s (or closing costs) you will pay, will be 3-4% of the market value of the property. Yes the closing costs can be folded into the new loan. The closing costs are something you should always consider because the money comes out of your pocket either way.