It is always a difficult decision for homebuyers to decide when is a good time to refinance. Some analysts will tell you right after one-year, others will tell you to wait as long as possible. NSH Mortgage believes that the question of when should I refinance in Florida, all depends on the current refinance home loan market rates.
It Is Time To Consider A Refinance In Florida
Currently, U.S. mortgage rates have now fallen to a 54-week low, falling to rates that have not been witnessed in a few months. Last year, in 2015, it was a very good time to refinance your home, and save yourself some interest money. If you missed that opportunity, now may be the time to take advantage and consider a refinance in Florida. Do not wait when thinking when should I refinance in Florida, the time is now!
How Much Money Can I Save Refinancing In Florida?
A typical household in Florida who is thinking about refinancing can save up to 30 percent on their current mortgage.
- $1,000 paid to the lender today, saves $300 per month
- $36,000 saved over the next 10 years – after refinancing in Florida
- 5 million homeowners are eligible for a refinance
There are mass amount of homeowners in Florida eligible for a refinance, and are unaware of the current possibility.
When Should I Refinance In Florida?
According to NSH Mortgage, a good time to refinance your current home loan is when mortgage rates drop beneath your current rate. This is usually bringing on those homeowners who are asking the question, when should I refinance in Florida? Low mortgage rates make opportunities very enticing, and peak interest from a lot of parties.
Homeowners that are thinking about refinancing their current home loan tend to come across the question of, “Is it even worth it?”
Back in the 1950’s, there was a very common question referring to saving only 1 percent with a refinance. There is a major difference between then and now. Mortgages are much larger now. Back in 1950 they were much smaller, and averaging around $60,000. One percent would only save a homeowner $1,000 annually.
With today’s home loan sizes, the refinancing savings can save you six times as much. Even a modest mortgage rate refinance can reduce your payment a few hundred dollars. Today’s current mortgage rates, combined with today’s home loan sizes can make even a quarter-percent savings worthwhile.
Now Is The Time To Refinance In Florida
If you have thought about a refinance home loan in the past and held off, now is the time to take action. With today’s current mortgage remaining rates low, this adds in an attractive value to taking the leap of a refinance.
NSH Mortgage can help in determining the question of, when should I refinance in Florida, for homeowners looking for more knowledge and help with refinance their current home loan.
Contact NSH Mortgage Today For Your Next Florida Refinance – 800-360-3813