When it is right to refinance?

When you plan to stay in your home long enough to realize the savings from re-financing.

There’s a simple formula to determine how many months it will take to realize savings from re-financing: Costs (quoted by your refinancing lender) ÷ Savings = Months to pay off the costs and break even.

For example, if re-financing decreases your monthly payment by $200 and it costs $1,200 to refinance, it will take 6 months to break even. After that, enjoy the savings!

Connect with Linda

Start a conversation an expert.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Connect with us
527 Lancaster Ave.
Wayne, PA 19087
Linda Walters
Associate Broker
PA license # AB069266