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How To Stop Getting Credit Card Offers
By Peter Lenkefi
Are you getting sick and tired of all the credit card offers that magically appear in your mailbox? Well, you aren’t the only one. Part of the reason why you are receiving so many of late is because Read more...
Unsecured Loans - The Benefits Of Debt Consolidation
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If you’re a tenant and you have a few different pieces of credit that you have to organise repayments for each month, you’re probably thinking like many other thousands of people up and down the Read more...
The Best Money-saving Tips For College Students
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With the cost of tuition on the rise, college students are seeking new ways to save a buck while going to school. "Scholarships Around the US" has compiled a number of such ways - 118 to be precise - Read more...
Can Stoozing Damage Your Credit Card Rating?
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People who stooz credit cards may make money in the short term, but if they are not careful their credit rating may be damaged.Stoozing credit cards by taking 0% interest introductory offers Read more...

 

 

 

 

 

 

 

pioneer military loan Article

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Online Mortgage Refinancing Loans - When To Refinance
By Frank Ellis
Q. When is a good time to refinance my mortgage?
A. The best time to refinance a mortgage is when it's to your financial benefit by refinancing.
You may have have heard of the (2 percent rule) in mortgage refinancing. What this rule says is that you need an interest rate of at least 2 percent less than your current interest rate in order for refinancing to make sense. While this may be generally true there are times when it is not.
The way to determine whether or not a refinance makes sense for you is to look at the new monthly payment and the closing costs and fees of the new loan. Let's say you have a mortgage of $225.000 at 7 percent but interest rates are now 6 percent. By refinancing at the lower rate you would save approximately $200 a month on your mortgage payment.
If you were to have closing costs and fees of $4000 we could easily figure out how long it would take to recover your costs. At a savings of $200 per month it would take 20 months to reach a break-even point. Once you reach the break-even point, you'll be saving $200 per month for the life of the loan.
If you were to keep your home for another 10 years after the break-even point you would save a total of $24.000. That's not a bad deal!
Before

making the decision to refinance, you want to be sure that the money you save by refinancing is more than the money it costs to close. When you're shopping for rate quotes be sure to get the percentage rate and the the costs for fees and closing. Most mortgage lenders will be flexible in this area. Either you pay a little more in closing costs for a lower interest rate, or you pay less in closing costs in exchange for a slightly higher interest rate. It pays to shop around. Get a Free Guide to Mortgages when you request a mortgage rate quote through usmortgagequest.com

If you liked this article and would like to read more refinance mortgage articles then stop in and take a look at what we have to offer. We have articles for refinance, mortgage, home equity, and credit scoring. And of course, you can always get a free rate quote while you're there. Thank you, Frank Ellis, usmortgagequest.com



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Selecting The Best Credit Card To Maximise Your Frequent Flyer Points
By Russel Clark
There are literally thousands of different credit cards available. If you believe the marketers, they all offer fantastic rewards, discounted interest rates, and low annual fees. The choice is Read more...

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Student Loan Rates To Rise July 1 2007
By Erol
As of July 1st, 2007, the interest rates on student loans are scheduled to increase. Although less than one percent, the resulting repayment amount can rise significantly over the life of the loan. Read more...