The savings is huge!! 🤯 If you’re used to making your mortgage payment and refinance to lower your payment, you might consider making the same payment. Here’s how: 1️⃣ Pay your new monthly minimum payment each month (I prefer to have this all set up on autopay so it never misses. 2️⃣ make an extra principal only payment each month for the difference of your previous mortgage to your new. Making the “principal only” payment is key!! The principal payment reduces your balance and is what saves yo

Great news for homeowners! Mortgage rates have fallen from high levels, offering the first chance in years to refinance. If you bought with a 7% rate, check your options. The best deals are for a 15-year mortgage, with rates likely between 5.4% and 5.7% for those with good credit.It’s the first time in a long time we’ve seen rates starting with a five. | Clark Howard