Should I refinance my home? What you need to know.

"Burning Question: Should I refinance my home?"

Hey Taxpayers, Tiffany Gonzalez CPA is back with another video in her "Burning Questions Series" Where we will bring you frequently asked questions that you need to know.

In this video we will be discussing refinancing of the mortgage on your home. We are in a record low-interest rate environment and this question has been coming up a lot!

Tiffany will be explaining two different types of refinancing, Rate and Term refinance, as well as the Cash-out refinance. She will explain what these are, how they can affect your payment, and give you easy to understand examples.

So if you have a mortgage with a high-interest rate and have been considering refinancing to a lower rate, and are not familiar with the process, this video is for you!

Tune in and get your financial I.Q. up!

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Disclaimers & Disclosure:

This content is for education and entertainment purposes only. Tiffany Gonzalez CPA and Accounting to Scale are not providing Tax or Investment advice. The information is being presented without consideration of the financial circumstances of the taxpayer/investor, financial objectives or risk tolerance and may not be suitable for all taxpayers/investors. We don't make any guarantees or promises as to results that may be obtained using our content. All investing involves risk, including risk of losing investment principal.

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[MortgageNerdPS]

The rule of thumb for the RT refi is to recoup your costs in under 3 years, or the savings surpass the costs in under 3 years. In FL that is much harder than other states due to the doc stamps and intangible tax that are part of the closing. I have software that shows several graphs and charts with a toggle button that allows you to see the saving or cost across various mortgages at any term in years. I'd be happy to run scenarios for any client you may have that is wondering if the refi is worth it. Then you can help them decide. Love the videos as always!