When and why you should consider a refinance on your home
Description
In this episode, Ray Brown and the Goodwin Investment Advisory team discuss when and why homeowners should consider refinancing their mortgage. They cover topics such as the importance of interest rates, the difference between principle and interest (P&I) and private mortgage insurance (PMI), how to remove PMI, reasons to consider refinancing (such as reducing monthly payments or improving creditworthiness), the impact of closing costs, the pros and cons of fixed-rate and adjustable-rate mortgages, and the importance of considering the long-term implications of refinancing.
Chapters
00:00
Introduction and Dad Joke
02:06
Removing PMI and the Benefits of Building Equity
08:02
The Impact of Closing Costs
10:02
Pros and Cons of Fixed-Rate and Adjustable-Rate Mortgages
12:52
Considering the Long-Term Implications of Refinancing
17:05
Gratitude and Conclusion
United States
