BiggerPockets Money20 Sep 2024

Is Refinancing Worth It with Today’s Falling Rates? (+ How Much It’ll Cost)

When should you refinance your mortgage? Is now the time since interest rates have finally fallen? Or will refinancing down to today’s rates not be worth it when, six months from now, interest rates could be substantially lower? We brought on an expert mortgage loan officer to walk through the cost-benefit analysis of refinancing in 2024 and when a refinance is NOT worth the money.

Greg Roller has closed over a billion dollars in loans, but surprisingly, he’s very cautious with homeowners about WHEN to refinance. Mortgage rates have already dropped significantly but could be trending down even more in 2024 and 2025. Is now the time to refinance? Greg discusses how much a refinance costs in 2024, how to know it’s worth it to refinance, what you’ll need to qualify, the differences between cash-out refinances and rate-and-term refinances, and why falling for a “low rate” could cost you in the long run.

Plus, Greg shares some tips to help your refinance go as smoothly and quickly as possible, as well as how you can refinance for FREE with a rate option most people have zero clue about.

In This Episode We Cover

Refinancing explained and how much the average refinance costs in 2024

When to refinance and the rule of thumb that highlights whether or not it’s worth it

The low-rate trap that inexperienced borrowers get caught in (you’ll get hit with hidden costs!)

Refinancing multiple properties and how to do this the RIGHT way

The easy method to see where mortgage rates are headed and whether they’ll rise or fall

How to refinance for free by asking your loan officer for a “rate stack”

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Join BiggerPockets for FREE

Support Today’s Show Sponsor, BAM Capital, Your Path to Generational Wealth with Premier Real Estate Investment Opportunities

Still Looking for Your First Home? Grab Mindy’s Book “First-Time Home Buyer”

Find Investor-Friendly Lenders

See Mindy and Scott at BPCON2024 in Cancun!

With Mortgage Rates Falling, When Should Investors Refinance?

Connect with Greg

Work with Greg

OptOutPrescreen.com

(00:00) Intro

(01:57) What is Refinancing?

(03:24) When to Refinance

(04:31) Lower Rates = Time to Refinance?

(11:42) How Much Do Refinances Cost?

(15:13) Refinancing Multiple Properties

(17:13) When NOT to Refi

(21:21) Tips for Homeowners

(25:11) The Low-Rate Trap

(26:47) Do This NOW!

(29:27) Work with Greg

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-565

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(802)

Did Buying a House Ruin Her Path to Financial Independence?

What if you had $1 million invested for financial independence at just 36, but still worried that buying a home could derail your early retirement plans? Cheryl and her family have two young kids, a $...

9 Okt 46min

Best of BiggerPockets Money: Ben Felix on the 4% Rule

How much can you safely withdraw in early retirement, and is the 4% rule still a good guideline? Ben Felix breaks down portfolio risk, asset allocation, bonds vs. stocks, flexible spending, and the ps...

8 Okt 26min

Is House Hacking Dead in 2026? How to Find Deals That Still Work

Is house hacking still a good strategy for reaching financial independence in 2026? Scott Trench and Evan Lawler break down a real house-hacking opportunity, looking at mortgage costs, cash flow, mark...

7 Okt 31min

How Much Can You Safely Withdraw in Early Retirement? | Christine Benz

How much do you actually need to retire, and once you get there, how do you turn your portfolio into income without running out of money? In this episode, Christine Benz from Morningstar joins us to t...

6 Okt 46min

J Scott Explains Inflation, Interest Rates & the Economy

What is happening with inflation, interest rates, energy prices, and the economy, and what does it mean for investors? In this episode of the BiggerPockets Money Podcast, Mindy Jensen and Scott Trench...

2 Okt 54min

Want to Reach FI Faster? These Careers Give You the Biggest Advantage

What are the best careers for reaching financial independence? In this episode of the BiggerPockets Money Podcast, Mindy Jensen and Evan Lawler explore careers that can accelerate your path to FI. The...

30 Sep 23min

Naseema Went Bankrupt at 25, Became a Single Mom at 30, and Built $1.3M by 45

How do you go from nearly $1 million in debt to building a $1.3 million net worth? In this BiggerPockets Money episode, hosts Mindy Jensen and Scott Trench sit down with Naseema McElroy to hear how sh...

29 Sep 44min

How She Went From $18K in Debt to Nearly $1 Million in 6 Years

How do you go from $18,000 in debt to nearly $1 million in just six years? On the BiggerPockets Money Podcast, Mindy Jensen and Scott Trench sit down with Kate to unpack the money decisions that compl...

25 Sep 51min