Elite Real Estate

Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to discuss re-financing your loan at a lower rate. You'll have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges. The largest factor in your decision should be the length of time you plan to remain in your home.