Calls are coming in from everywhere here in FL; with eager homeowners wishing to lower their current mortgage rates.  Many achieve their goals with our VA IRRRL, or regular VA refinance.  Others utilize streamline refinance options with FHA; while others consider qualifying under HARP.  Sometimes refinancing may not make sense…

Recently a FL homeowner was referred to me regarding refinancing opportunities in the hopes to lower his current interest rate.  He told me about the advertising he was seeing on TV as well as offers received via snail mail and email.  It seemed that everyone was telling him to refinance his higher interest rate FL mortgage.  Then he called me.

There are 2 types of mortgage professionals in today’s FL mortgage market.  There are the ones that only care to provide you exactly what you want; whether it saves you money or not.   The others are the true professionals who care to ensure that refinancing will provide a true benefit.

In just a few minutes I learned our FL homeowner was going to sell his home within 18 months.  If he refinanced, he would enjoy a much lower interest rate,yes; but the recovery period associated when factoring in closing costs, took much longer.  In other words, if he refinanced and sold his home in 18 months; he would owe more than he would have if he didn’t refinance.

It does pay to speak with an experienced mortgage professional when discussing options to refinance.  It has to make sense and homeowners must benefit.  For more on refinancing opportunities and benefits, call 407.733.6425 or email Stephen Thaggard.

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  485 N Keller Road, Suite 550, Maitland, FL 32751