Video Transcript:
Your lender might offer a “no-cost” refinance, but this is almost never true. The real costs are just hidden inside, making you pay much more. I always tell people to ignore the promises. I’m David Ghazaryan, and I direct my team to analyze the actual numbers on the paperwork first. Here is a very simple rule we use for every deal. Divide the total closing costs by your monthly savings. This tells you the real answer. If you stay in your house for a long time, paying the costs now is smarter. You get a lower rate and save much more money later. Be careful when they offer a new thirty-year loan. Your monthly payment looks smaller, but you are resetting the clock and will pay much more interest. This thinking guides all our work. You can follow me on social media or visit my website. The links and full article are below in the description.
Read Blog Here: https://www.iqratemortgages.com/blog/is-your-florida-va-streamline-refinance-a-bad-deal
