Wealth-Coaching

Evaluating your current mortgage might show you that you need to refinance.  With the low interest rates on the market today, you can save thousands of dollars over the years by refinancing your real estate investment.

Keep in mind when considering refinancing that you may not be able to get the lowest rates on investment property if you don’t reside in it.

There are several things to consider when refinancing:

1. Be sure to select the correct type of loan.  Fixed and variable rates can both be money savers depending on the term and amount.
2. PMI - Private mortgage insurance - stay away from PMI at all costs.  There are creative ways to finance even if you don’t have the 20% cash or equity in the property.
3. Getting quotes from different lenders is essential.  Don’t just take the first offer that comes your way.  Make the lender work for your business.

Be sure that when you refinance you get advice from an expert in real estate investing.