How You Can Save Hundreds of Thousands of Dollars



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Interest rates are as low as they've been in 70 years. If you have a mortgage right now, you should be considering a refinance on your home. You may have missed your opportunity to do so two years ago, so now is your chance to redeem yourself and lock in a low rate on your home. 

You may not want to go through the hassle of refinancing, but it will save you thousands of dollars in the long run. It will cost you time and a little bit of money right now, but you'll be happy you did it later on. 

For example, on a $400,000 home with an interest rate of 5%, you'd be paying $2,147 per month, as opposed to a 4% interest rate where you would be paying $1,909 per month. That's a difference of $250 per month, and nearly $3,000 per year! Over the life of the loan you have the chance to save up to $85,000 dollars - that is huge. 

Imagine if you took that $85,000 and put it in a retirement fund with a compounded 6% interest. That could accumulate to $240,000 in savings, and if you add the $85,000 you began with, you'd be saving over $325,000.   

Saving a quarter of a million dollars is an absolute no-brainer.

If you have any questions on how to refinance your home in Northern Virginia, please feel free to contact me. My team and I would be pleased to assist you.