Taking the time to refinance your home mortgage is well worth the hassle. We refinanced about 6 years ago, reducing our monthly payment by nearly $200! What would you do with an extra $200? We found plenty of ways to spend and save our extra found income. We're a penny-pinching family even when times are good, but the last few months have been unpredictable with my husband having lost a job in mid-August and not finding employment until just a couple weeks ago. That employment is contract-based, meaning it offers no benefits and could end at any time. That's life for you.
We never know where the path of life will take us next. Saving a nickel here and a dime there is essential in our uncertain economy. Imagine saving hundreds of dollars every month? It could make a world of difference to your family's ability to thrive if life throws you (or your employment status) for a loop.
As I consider my options, I'm also checking out a mortgage calculator I found online. Ohhh the wonders of the Internet! lol You can find anything online these days. Love to play with this calculator too. If you're not sure what you can afford a mortgage calculator will give you an excellent idea. If you're looking to refinance, this particular calculator is a good one.
I'll keep you posted on our decision of when and were to refinance!
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1 comment:
I think it is a good time to buy. Interest rates are low and might not be this low again. Best of luck with whatever you decide.
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