Home Loan

Home loan refinancing is not a sign of ingratitude, but of opportunism. Don't stay with your current home loan just because you feel obliged to your current provider.

Home Loan

No pledge of allegiance...

When you apply for your first mortgage you'll probably spend months looking for the very best lender. And you get your home loan - after searching for so long you find a lender that is affordable, flexible, and completely understanding of your needs. Good for you, thats the kind of lender you want and you probably got a truly good deal. No forget about it and start looking for that refinance right away - it is always a good time to look for something better.

Think twice about ditching your home loan

The early 1990's saw a dramatic decline in rates and home loan costs across the country. For someone who had a home loan for a few years it was easy to refinance - if you had a fixed rate at 12% and you could refinance to 7%, why not do it? But for new home owners they were faced with a tough decision - should they already move onto a better home loan after just receiving and locking into their first? The answer is a tricky and tentative yes.

Sudden refinancing might not be so good

Yesterday you took out a home loan, an ARM with a 6.5% fixed rate for your initial five year term. Today, rates fall to 6.0% on that same deal - do you or do you not refinance?

Our advice here at Fixed Rate Refinance would be to settle down into your current mortgage for a time, build up some home equity and get used to the whole home owning business. Yes, you could get a better rate elsewhere - perhaps a countrywide home loan would result in immediate savings - but you just got into your mortgage and you need to show some dependability. Build up some equity, take out a home improvement loan and invest in your financial future that way - the greater stability and the greater equity you can put up when you decide to refinance the better your opportunity of finding a truly beneficial, truly affordable deal.

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