Mortgage Blog

4 Reasons to Refinance

May 14th, 2016 12:33 PM by Eric Fang

1. Rate is still at historical low

2. Home value has been up, for some borrowers, if they could not refinance before, then you can do it now. Or if they want to cash-out for the home improvement, they are able to do it with higher property values.

3. Borrower can change ARM to fixed or fixed to ARM, or from 30 yr fixed to 15 yr fixed, 10 yr fixed etc

4. If the borrower had ARM rates in the past 5 years, the reset rate will be around 3.5%, so it is better to refinance than the rate reset. 
Posted in:General
Posted by Eric Fang on May 14th, 2016 12:33 PM

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