Keyword Analysis & Research: how much lower interest rate to refinance


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Frequently Asked Questions

What percentage is worth refinancing?

Refinancing to save 1 percent is often worth it. One percentage point is a significant rate drop, and it should generate meaningful monthly savings in most cases. For example, dropping your rate 1 percent — from 3.75% to 2.75% — could save you $250 per month on a $250,000 loan. That’s nearly a 20% reduction in your monthly mortgage payment.

Will refinancing lower my mortgage?

The primary reason homeowners refinance is to lower their mortgage interest rate. This lowers your monthly mortgage payments — but that’s not all. It can also save you thousands (or tens of thousands) over the full life of the loan.


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