It's no secret that mortgage rates are at record lows. But according to many so called "gurus", it only makes sense to refinance if you can save x or y amount of dollars. Don't let all the guru noise or internet babble discourage you from checking things out for your own situation.
For example, consider someone who just purchased a home or refinanced their $200,000 mortgage several months ago They might have a mortgage rate of 4.75%. Many "experts" would say its not worth it to refinance unless you can lower your rate by a full 1% without paying points or closing costs. However, what if they paid $3,000 in points and closing costs to reduce the rate to 3.75% and bumped up thier mortgage balance to $203,000? Here is wat thier situation might look like:
Old Payment = $1,043.29
New Payment = $940.12
Payment Savings = $103.17
If they saved the $103.17 @ 4.5% they will have:
$6,782 in 5 years
$15,271 in 10 years
$25,897 in 15 years
$39,210 in 20 years
$76,698 in 30 years
WOW !!
If this represented your situation, and you listened to all the "gurus" telling you not to bother refinancing, you would actually LOSE up to $76,698! Do yourself a favor. Put that money back in your pocket by calling me today! Although I am not promising that you will save exactly this much money, I will help you save as much money as possible in your situation.
Don Lambert
CEO
Email: don@accutrust.biz
www.MyOwnMortgage.com
Accutrust Mortgage Inc
1107 Pleasant Street
Fall River MA 02723
(508) 646-6650
NMLS # 2409, MA-MB2409, ME-CSO7814, NH 10349MBR,
VT-1050MB, CT-14666, RI-20047100LB
