Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.

You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges. The biggest factor in your decision should be the length of time you plan to remain in your home. If you will be there for only a year or two more, it might not pay to re-finance. If you will be in your home longer, re-financing could provide you with lower mortgage payments. Your real estate agent can help you work out the numbers and can refer you to reputable home appraisers and mortgage lenders.

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Grace Santos-Michelman
Keller Williams Realty
411 N Central Suite 100
Glendale, CA 91203
Mobile: 818-795-3543
Office: 818-432-3215
Fax: 818-432-3232
Email: : gracemyrealtor@gmail.com

Grace promises to meet the needs of any buyer and seller and she will help her clients through many situations with her unique realty approach. Homeownership is the American Dream and you are about to embark on an exciting journey. Grace will personally guide you through the real estate process and is always at your service.