My sister told me that it looks as if it is time to get a refinance due to better home loan interest rates. She said that when she committed to a 30 year home loan, the interest rate was not great but then if she does not sign for her house, she would not do it and will delay buying a house till God knows when!
So what she did was to sign for it first knowing that it is high but now that the rates have gone down, it is the right time to shop for a refinance.
According to my sister, her friend who moved to Oregon earlier this year and bought a home there soon after with a Oregon home mortgage has told her that she anticipates saving a considerable amount of money and also shorten her repayment time thanks to a Oregon mortgage refinance.
Now that her new home loan has a lower interest rate, she could repay it faster and fully pay up her loan within a shorter period of time or she can continue with paying off the loan within this time frame but with a lower amount each month.
I think that if she can really save time and money, that it is wise to go ahead with the remortgage. Having a thirty year home loan on her shoulders must not be easy.
So what she did was to sign for it first knowing that it is high but now that the rates have gone down, it is the right time to shop for a refinance.
According to my sister, her friend who moved to Oregon earlier this year and bought a home there soon after with a Oregon home mortgage has told her that she anticipates saving a considerable amount of money and also shorten her repayment time thanks to a Oregon mortgage refinance.
Now that her new home loan has a lower interest rate, she could repay it faster and fully pay up her loan within a shorter period of time or she can continue with paying off the loan within this time frame but with a lower amount each month.
I think that if she can really save time and money, that it is wise to go ahead with the remortgage. Having a thirty year home loan on her shoulders must not be easy.
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