© 2018 AFC Mortgage Group, LLC

AFC Mortgage Group NMLS# 2801  |  Frank Ciambriello NMLS# 4757

Licensed in CT, NY, MA, VT,  Equal Housing Lender

(203) 452-9899  |  fciambriello@afcmortgagegroup.net

AFC Mortgage Group, LLC

Monroe, CT 06468

When I should refinance?

It's generally a good time to refinance when mortgage rates are 2% lower than the current rate on your loan. It may be a viable option even if the interest rate difference is only 1% or less. Any reduction can trim your monthly mortgage payments. Example: Your payment, excluding taxes and insurance, would be about $770 on a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment would then be $700, now you're saving $70 per month. Your savings depends on your income, budget, loan amount, and interest rate changes. Your trusted lender can help you calculate your options.