You don't need a rate 1% lower for a Refi to make sense!

Forget the obsolete Rule of Thumb: "Only refinance if rate is 1% lower"

Check this out!

Assumption:

 30 Year Fixed Rate at 4.25% closed 2 years ago with $350,000 original loan balance
P&I Payment = $1722. Current loan balance is $338,500.

Refi rate is only 3/8% Lower...

Refinance with a "No Cost" loan at 3.875% 30 Year Fixed Rate:

New P&I Payment will be $1592  without increasing loan amount.

However, so you do not extend your new loan term longer remaining term on previous loan,
you continue to make payments of $1722.

Look at this!
New Loan will pay off 25 months earlier and you Save $42,322 in interest.

and this is with a rate only 3/8% lower than current rate!

   

If it cost you nothing, other than your time to gather documentation, why would you not refinance? 

Contact me for your free customized Savings Analysis and let's see what you might save!

Remember, as a mortage broker I have access to hundreds of wholesale
funding sources and I do all the work for you -  you save time and money.
No Cost "Lender Credit" loans available as in above assumption!

Call me now at 925-691-9909!