Best Time to Refinance Redding CA

Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure that the timing is right to refinance? All of these are important points to keep in mind when considering the right time to refinance in Redding.

Mr. David Martin Bullock, CFP®
(530) 243-1386
1314 Trinity St
Redding, CA
Firm
LPL Financial Services

Data Provided by:
Mr. Jeffrey A. Coon, CFP®
(530) 246-4079
1515 Pine St
Redding, CA
Firm
Wells Fargo

Data Provided by:
Ms. Catherine Lathrop-Cummings, CFP®
(530) 243-7561
2705 Park Makina Dr
Redding, CA
Firm
Wells Fargo Advisors, LLC
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Insurance Planning

Data Provided by:
Mr. Perry J. Wright, CFP®
(530) 244-7199
1255 East Street
Redding, CA
Firm
Stifel Nicolaus & Company, Inc.
Areas of Specialization
General Financial Planning

Data Provided by:
Mr. Aaron R. Hatch, CFP®
(530) 515-7131
1600 Victor Ave
Redding, CA
Firm
Forcella Wealth Management
Areas of Specialization
Budget Development, Comprehensive Financial Planning, Education Planning, Employee and Employer Plan Benefits, Estate Planning, General Financial Planning, Investment Management

Data Provided by:
Mr. Andrew J. Duff, CFP®
(530) 246-4333
1348 Market St
Redding, CA
Firm
AXA Advisors

Data Provided by:
Mr. Tom Wood, CFP®
(530) 244-7526
1828 South St
Redding, CA
Firm
The Advice Center
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Not Applicable

Data Provided by:
Ann Marie Bugenig, CFP®
(707) 443-2741
1255 East St Ste 100
Redding, CA
Firm
Stifel Nicolaus
Areas of Specialization
Asset Allocation, Budget Development, Estate Planning, Life Transitions, Securities, Women's Finances
Key Considerations
Average Net Worth: Not Applicable



Data Provided by:
Mr. Geoff V Forcella, CFP®
(530) 222-6301
1600 Victor Avenue
Redding, CA
Firm
Forcella Wealth Managment
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits, Estate Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $50,001 - $100,000



Data Provided by:
Mr. F. William Evanhoe, CFP®
(530) 244-1900
340 Hartnell Avenue
Redding, CA
Firm
Evanhoe Kellogg & Company, Cer
Areas of Specialization
Accounting, Budget Development, Debt Management, Estate Planning, General Financial Planning, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Data Provided by:

Best Time to Refinance

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Best Time to Refinance

Author: justin narin

Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure that the timing is right to refinance? Are the rates and the current mortgage market the best indicators? What about other factors having to do with your mortgage, such as mortgage insurance, rising payment amounts, and the long-term goals you have for paying off your loan? Do you have needs such as debt consolidation that a refinance could address? All of these are important points to keep in mind when considering the right time to refinance. What you must do is evaluate the critical factors and how to balance them in your decision-making in order to most wisely choose the time and manner of your refinance.

Of course, continuing to pay attention to rates, even after you close, can save you a great deal of money. How much you pay on your mortgage each month is directly related to your interest rate. If your first mortgage has a fixed rate, you can easily compare it to current mortgage rates and know with relative certainty whether refinancing now makes sense. In the absence of any other pressures, as long as the rate you have on a fixed rate loan is lower than current rates, you should probably stick with it.

On the other hand, if you have an adjustable rate mortgage (ARM) and rates are rising, your payment will also be increasing. In this case, consider how much rates will climb and how much more you'll be paying per month. You may consult with a financial planner or loan officer to get their opinions on market trends. With their advice, you can decide if refinancing to a fixed rate now is more beneficial in the long run.

You're probably beginning to see that the right time to refinance has more to do with you than with the mortgage market. Sure, low interest rates are a factor, but your individual situation is the greatest indicator. For example, are you paying on a loan that requires you to carry mortgage insurance? Have you built up enough equity to drop that insurance through a refinance? If so, refinancing could save you hundreds each month, even if rates have remained unchanged or have increased slightly.

Did you sign a three- or five-year adjustable rate mortgage (ARM) in the last few years? If so, be sure you know when your introductory term expires. You'll want to get a head start on refinancing your loan unless you're prepared to begin making a much higher payment. This type of loan allows you to make reduced (usually interest-only) payments for the first several years. After that time expires, the loan reverts to a regular amortized loan with principal and interest payments. Unless your income has increased significantly, these payments could be an ugly shock. Don't wait for this unpleasant surprise! If the introductory period on your three-year, five-year, or other loan is set to expire, beat increased payments to the punch before the first one hits your mailbox.

Sometimes, lowering your mortgage payment is not the primary focus. Are you thinking of paying down some of your high-interest debt? Do you have a child going off to college soon? Dreaming about a newly remodeled kitchen or bathroom? Getting cash out of your home may be the ticket. You can get cash out through a refinance, which will allow you to draw against the equity in your home without taking out a second mortgage.

All of these and many others make up the list of reasons homeowners may choose to refinance their homes. Current interest rates are only part of the equation. Establish your goals, learn about your options, and make the decision that's best for you and your timetable.

For more articles on Home Refinance, visit: http://www.bills.com/refinance-my-home/

About the Author:

Justin has 5 years of experience as financial adviser; his key areas are consolidation, insurance, debt relief, mortgages etc. For more free articles and advice visit http://www.Bills.com.

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