refinance rules of thumb

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One rule of thumb is that refinancing can be worth it if there’s a difference of at least one percentage point between your current mortgage rate and the new. "A broad rule of thumb. a refinance has higher closing costs than a HELOC, the interest rates can be fixed or adjustable. Of course, there isn’t a single refinance rule of thumb.

Rules of Thumb on When to Refinance a Car Loan. The bottom line is that, while there is nothing to stop you from trying to refinance at any time, it is generally better to wait at least a short period of time. At IFS, we use the following rules of thumb to guide customers on when to refinance their auto loans:

 · The Home Affordable Refinance Program (HARP) is a federal refinance program targeting underwater homeowners. First announced in March 2009, HARP is designed for homeowners who are current on their mortgage payments, but who haven’t been able to refinance because they have limited equity, no equity or negative equity in their homes.

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Don’t Refinance Until You Read These 6 Simple Rules. By. rates-follow these six refinancing rules to know when and how you should refinance.. be a rule of thumb that said to refinance only.

Should I Refinance My Mortgage?. One rule of thumb is that refinancing can be worth it if there’s a difference of at least one percentage point between your current mortgage rate and the new.

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The rule of thumb about rules of thumb is that they’re only guidelines. Different lenders and loan products may use different ones. Some lenders will accept a borrower with a PITI of 30 to 40 percent of his annual gross income. fha loans allow 31 percent PITI and a 43 percent DTI. You can also get an FHA loan with a mere 3.5 percent down payment.

Another column led to an increase in credit ratings for borrowers who made prompt payments on student loans. Over the years ..