Bottom line upfront: The wind has been at our sails for over a year. Now its time to grab an oar and start rowing. By this time everyone is well aware that drastic measures were taken across the board at the beginning of the coronavirus pandemic in 2020.
When is the last time you looked at how much interest you are paying over the life of your loan? Most people would answer “never” or “I don’t because I don’t even want to know” maybe followed by a slightly uncomfortable chuckle admitting that it’s actually an important number to be aware of.
Whether you do a Rate & Term Refinance or Cash Out Refinance, now could be the time to strike if you did not take the opportunity in 2020 or 2021.