The principals are Alan Cooper from Norcross GA, Belinda Clay from Norcross GA, Bill Thomasson from Norcross GA, Brian Goud from Norcross GA, Charles Peek from Norcross GA, Dale Pontecorvo from Norcross GA, Dale Thumann from Norcross GA, David White from Norcross GA, Joe Wiggins from Norcross GA, Mark Taylor from Norcross GA, Michael Arendt from Norcross GA, Michael Reed from Norcross GA, Patrick Milone from Norcross GA, R.W. Custard from Norcross GA, Rick G. Linville from Norcross GA ...
A general rule of thumb is to refinance when interest rates drop 2 percentage points or more. For example, if you have a $100,000, 30-year, fixed-rate mortgage at 10 percent, you will pay more than $215,000 in interest over the next 30 years.umber of months. The number months you will be paying on your refinanced mortgage loan. 30 years = 360 months, 20 years = 240 months, 15 years = 180 months. Loan origination fee. This is a fee charged by the lender to evaluate, prepare and submit your loan. It typically ranges for 0.5% to 2%.
For borrowers who cannot refinance because of credit issues or low home equity, a loan recast could be a good option because you are not applying for a new loan. Your interest rate and your loan term will stay the same. The only difference is in your monthly payments. A loan recast, because it is not a refinance and does not require a loan application and closing costs is significantly less expensive than refinancing. Refinancing fees often cost around 2 to 3% of the loan amount.