Analyze Your Savings

During unpredictable economic times saving money becomes more and more important to many Texans and refinancing your home loan is one way you can save money by lowering your monthly payments. A careful analysis of your situation combined with the advice of your Adkins Financial Group mortgage broker in San Antonio will ensure that you make the right decision. The costs associated with refinancing your San Antonio mortgage are similar to those of obtaining an original home loan and include legal fees, application fees, settlement costs, and other related fees. When refinancing, additional fees will arise and they can include a fee charged if you paid off your original mortgage early, the points associated with the refinance, and the home loan interest rate. Typically the cost of refinancing in Texas runs between three and six percent of the total amount of the home loan. However, many mortgage brokers in San Antonio are now offering zero point loans and low-cost refinancing. Therefore, even if your rate change is less than one percentage point, you may be able to save some money by refinancing. Contact your San Antonio home loan advisor to discuss the various costs and laws governing the fees charged by mortgage companies in San Antonio and the potential savings you can enjoy.

Analyze Your Savings Paying Points for a Lower Rate Trade Your ARM for a Fixed Rate