Ever heard the old rule of thumb, you should only refinance if your new interest rate is at least two points lower? That may have been true years ago, but with refinancing dropping in cost over the last few years, it's never the wrong time to think about a new loan! Refinancing has a number of benefits that often make it worth the up-front expenditure many times over.

Think about it: if someone gave you $450 per month (that's $5,400 per year!!), what would you do with it?

When you refinance with a Certified Loan Officer working through My 123 Mortgage.com, you might be able to lower your monthly payment even more than the example above! Many of our clients SAVED $1,000 PER MONTH AND MORE. Now ask youself:

When isn't it a good time to save that kind of money?

You might also be able to "cash out" some of the built-up equity in your home, which you can use to consolidate debt, improve your home, take a vacation -- whatever!

All these benefits are not free, though. When you refinance, you're paying for some of the same things you paid for when you obtained your original mortgage. These might include settlement costs like an appraisal, lender's title insurance, underwriting fees, and other closing costs. BUT, If the loan doesn't make sense for you, we will tell you it just isn't worth it. We are looking for your referrals and continued business, so it doesn't benefit us to put you in a bad financial position.

For example, your Loan Officer Professional can quickly determine whether you have a prepayment penalty that would wipe out the benefit of refinancing.  In some cases, though, the cost of paying the penalty is outweighed by the benefits of a greatly reduced monthly mortgage payment, or greatly reduced overall interest payments. We'll help you figure it out.

Ultimately, for most people the amount of up-front costs to refinance are made up very quickly in monthly savings. We'll work with you to determine what program is best for you, considering your cash on hand, how likely you are to sell your home in the near future, and what effect refinancing might have on your taxes.

Apply now or get your free consultation.