Houston Credit Repair Expert, Vanessa Perry explains the cost of refinancing in the latest episode of Ask Impeccable.
Should you Refinance?
Every situation is different. Refinancing is not for everyone and others it is the most logical answer. Before refinancing always know the total cost of refinancing as well as the qualifications and rates. With having all of your information in front of you it is easy to make the right decision for you, With every refinance there will always be a closing cost that occurs. In some cases, you can get the closing costs rolled into the back of the loan and pay them later, but you will still need to pay them. Some options could always be instead of refinancing wait for the best rate. If your credit score is not at least a 750+ it may be a waste of time and money to refinance.
How Much Does Refinancing Cost?
Even if the market rates are at an all-time low it might not be the best to refinance unless you are qualified for the lowest rate. Yes, 1-2% does make a difference in the payment, but does the cost outweigh the closing cost? That is something you will need to consider prior to refinancing. If it is a a major rate change along with reasonable fees due to Impeccable Credit refinancing maybe an option. Be sure to take your time, get your credit in shape and work towards the best rate. If you are not qualified for the best rate you may want to consider credit repair professionals for assistance.
Houston Credit Repair
Impeccable Credit Services has been in business for 17+ years and has serviced thousands of clients. Our goal is to educate others about their credit as well as remedy their current credit difficulties. If you have any questions please feel free to contact us 24/7 713-378-1500.