Video Transcript:
Everyone wants a lower payment, but most people miss the hidden trap in the numbers. There is one simple calculation that shows you the actual truth. I'm David Ghazaryan, and I always start with this calculation. It tells us how many months until your lower payment actually starts saving you any money. We take the total loan fees and divide by your monthly savings, like four hundred dollars. The answer tells us exactly when your real savings actually begin. (Data may vary over time) If your breakeven number is eleven months, you must stay longer to benefit. Selling your home before that time means you will have actually lost money. Some loans have no upfront fees, but there is a catch. The lender gives you a slightly higher rate so they can pay the closing costs for you. This thinking applies to every loan, not just this one. I share more details on my platforms and in the article linked below in the description.
Read Blog Here: https://www.iqratemortgages.com/blog/va-irrrl-in-california-calculate-your-breakeven-point
