If you’re like most people, you’d like to get settled into the new year and lose a couple of those holiday pounds before you start thinking about where you might be by this time next year. However, rolling into a new year can bring about personal reflection and the desire for change, hence the millions of well-intended yet unfulfilled New Year’s resolutions.
For good reason, a lot of resolutions are financially-based, and with the right mindset, 2017 can be different for you and your finances. Since mortgage payments are a big part of anyone’s budget, refinancing your home offers a great deal of both financial and personal benefits.
Financial Perks
- A lower interest rate and better mortgage means lower monthly payments
- You can potentially file any tax-deductible closing costs or write off any prorated closing costs from your previous loan on this year’s tax return
- You will typically receive the escrow balance refunds from your current lender within 30 days of closing
- Refinancing may allow you to skip a month or two of mortgage payments
Personal Perks
- Money saved each month and throughout the year means more for you to spend on gifts and travel during the holidays
- Increase to both your short and long term cash spending
- Removes the stress of a higher interest rate and mortgage payment
Taking advantage of these perks may allow to achieve your sometimes elusive New Year’s resolutions. The earlier you stick to them the better, so please feel free to give us a call at 321-265-4000 to get started right away.
