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Real Estate Tips
About Appraisals >Refinancing Your Home

Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.

You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges. The biggest factor in your decision should be the length of time you plan to remain in your home. If you will be there for only a year or two more, it might not pay to re-finance. If you will be in your home longer, re-financing could provide you with lower mortgage payments. Your real estate agent can help you work out the numbers and can refer you to reputable home appraisers and mortgage lenders.

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Real Estate Trivia
Q 
What is one of the most common ways for making the interior of a home more appealing to buyers?

A 
Repainting walls with light, neutral colors makes it easier for a buyer to visualize how the home will look with their possessions.
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Scott Foley Realtors, REALTOR®, real estate agent and broker for Pine Bush, Middletown, Chester and Goshen, New York home listings, property and land for sale - NUMBER1EXPERT(tm)

Scott Foley Realtors
Scott Foley Realtors & Insurance Group

93 Prince St. and 112 Main St.
Chester, NY 10918
845-342-7781
Fax: 845-342-7782
ScottFoley@NUMBER1EXPERT.com


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