1709: [Part 1] Should I Refinance My Mortgage by Scott Rieckens of Playing With Fire on Home Loan Savings
Optimal Finance Daily - Financial Independence and Money Advice
00:00
Refinance - What You Need to Know
Some great advice here from scott on considerations when refinancing. I myself was curious about re financing my home back in 20 20 due to the low interest rates. And i ultimately decided that the savings i would receive from a lower interest rate wouldn't be realized due to the cost of re financing. So appreciate scott pointing this out. The less you owe on your home, which for me is just over a hundred grand, the less appealing refinancing becomes due to all the costs. Scott also mentions that people re finance to adjust the term of the loan from, say, 30 years, to a 15 year loan. However, i've also n the recommendation to keep the 30 year loan
Play episode from 09:46
Transcript
