How do you refinance a house? How long does it take to refinance a mortgage? In this video, I discuss how to refinance your mortgage and why it’s important to get all of the paperwork over to your mortgage broker now while we wait for interest rates to come back down. #RealEstate #RealEstateMarket #Refinancing New videos 3 times per week on Real Estate, Mortgage, Home Buyer Tips and Home Seller Tips –Subscribe for More Real Estate Tips and Real Estate Information –How to refinance a mortgage? Refinancing your mortgage is a lot like the process you went through to initially acquire your mortgage loan. It required you speaking to a mortgage professional and doing a loan application along with the lender running your credit to see if you qualify for a loan. In addition, you had to provide tax returns, w-2’s, bank statements, etc… .. In order to refinance, you are going to go through a similar process and provide the exact same documentation. How long does it take to refinance a mortgage? Typically the process of refinancing is around 30 days but with lenders being busier than normal due to unusually low interest rates, the turn times have slowed down taking the process out a bit longer to around 45 days in some cases. Where to refinance mortgage? If If you don’t remember that person or aren’t sure where to start then please reach out to me and I’d be happy It doesn’t hurt to speak to multiple people when considering this process to not only make sure you are getting the best deal but to Also make sure you are working with someone that you get a good feeling from as well. When should you refinance? You should consider the process of refinancing when the interest rates are lower than the interest rate that you currently have on your mortgage. In most cases cases At the end of the day, it doesn’t cost you anything to have that conversation with a, you will need around .375% to .5% difference in interest rate for it to make sense depending on your loan amount, of course. mortgage professional to see if the difference in payment actually makes sense for you. You also have to consider how much it’s costing you to go through the refinancing process and how long it will take you to pay off that cost with the monthly savings you would be I Are you considering refinancing and not sure where to start? After watching this, are you still wondering, how do I refinance? Please comment below or contact me directly and I’d be happy to guide you through the process. Thanks for watching. Connect with me: BLOG ➳ FACEBOOK ➳ INSTAGRAM ➳ Other videos you might find helpful : Real Estate Market Repo rt –March 2020 –Steps to buying a house –Can I back out of home purchase after inspection? –Who pays what when buying a house? –Should You Be Present for Home Inspection –Appraisal vs Home Inspection –What’s the Difference?