• Refinancing: Timing Is Key

    Thursday, January 2, 2020   /   by Larry Martin

    Refinancing: Timing Is Key



    I’ve worked with Treadstone Mortgage’s Tim Meduna for five years now, and he’s sharing his expert financing insight with us today.

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    Today I’m joined by loan officer Tim Meduna of Treadstone Mortgage to help address some recent questions I’ve received about refinancing and financing options available for first-time homebuyers.

    When does it make sense to refinance? According to Tim, if you stand to save three-fourths of a percentage point or higher, it makes sense to consider a refinance. He recently dropped a client from 4.875% to 3.875%, saving them close to $133 per month.


    "Knowing precisely where you stand financially before you start shopping can eliminate so much stress from the process."

    You could also have your house reappraised. Sometimes after a reappraisal, the value of a home is determined to be higher than it initially was, allowing the homeowner to then reduce or eliminate their mortgage insurance (another way to see big savings).

    For first-time homebuyers, Tim strongly suggests a careful examination of credit, income, and assets before looking at any properties. Knowing precisely where you stand financially before you start shopping can eliminate so much stress from the process.

    If you’re wondering whether now is a good time to refinance, sometimes the answer can be as simple as having a five-minute conversation with a loan officer like Tim Meduna. Feel free to give me a call or send me an email so I can connect you with Tim or answer your real estate questions.

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