Refinancing your home: the best time may be now!

Refinancing your home: Put on your financing caps!

This week we are talking about refinancing your home. So, there’s a lot to learn while considering why 2021 may be the best time to refinance.

Your biggest financial commitment

If you have a mortgage, then you know it’s one of the biggest financial commitments on your plate. And even though experts are predicting mortgage interest rates to increase in 2021, they are still relatively low compared to where they were before the pandemic. Therefore, this could be the best time for you to refinance and save.

For example, according to Next Advisor, right now, “the average interest rate for a 30-year fixed-rate refinance is 3.32%, while a 15-year fixed-rate refinance comes with an average interest rate of 2.68%. Even if we’re no longer seeing the rock-bottom rates from the middle of the pandemic, homeowners looking to refinance can still find significant savings.”

Refinancing your home before selling

Now, you may be wondering about the advantages and disadvangtages to refinancing if you are selling your home. For this matter, we found an article from Rocket Mortgage that claims though there is no law saying that you can’t refinance there are reasons why you shouldn’t.

Ultimately, many of the reasons for not refinancing have to do with closing costs but there are alternatives. This involves requesting a loan modification and taking a no-closing-cost-refinance.

If you have more questions about re-financing you can navigate to our Resources menu and drop down to our Preferred Lenders at Movement Mortgage.

Private Financing

While we have our financing caps on let’s look at another resource on The Dias Team website. If you are interested in real estate investment such as house flipping, new construction or apartment rental, then visit our Private Financing page. You can also check out facebook to look at North Eastern Private Lenders latest funding for a flip.

And for you buyers interested in affordable coastal living in Massachusetts, Fairhaven is well located.