AZ Refi: AZ Refinance Strategies

Working with you to develop refinancing strategies that work for you.

Wednesday, April 28, 2010

AZ Refi - Are You Considering Refinancing Your Home Loan? Part 4

Maybe Refinancing Isn’t the Best Option For You 


Homeowners who are considering a refi quickly come to realize the value of evaluating multiple refi options to determine which is best for them. 

What some come to realize is that the best option may be to not refinance.  This is often labeled as the "do nothing" option because it speaks to the situation the homeowner creates if they don't make a change in their mortgage. 



Here are the considerations for each refi option you may be reviewing:

  • The Estimated Monthly Payment
  • The Total Amount of Interest Paid Over the Entire Life of the Loan 
  • The Term of the Loan (Year it Will Be Paid Off)
  • Amount of Time Owner Will Need to Break Even on Closing Costs From the AZ Refi 
Arizona homeowners should look closely at the cost of their refi options compared to the cost of their current mortgage.  Evaluate this info in a spreadsheet or on a legal pad so you can look at the numbers side by side.  Often it will be really clear what your decision will be.
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