The BIG Mistake I Made Refinancing

The BIG Mistake I Made Refinancing

Yes, you read that headline right, I regret refinancing and wish I would have done this instead.  Here’s the big mistake I made refinancing.

I saved a ton of money on the payment. My payment went way down. My interest rate went way down. What I regret is that I didn’t take advantage of what’s happening in the real estate market. My home has gone up in value so much that I could have sold my house and upgraded my house to a bigger house with more space to spread out, in maybe a better location. I regret not doing that, especially with COVID going on, that we didn’t take advantage of this equity and move up to an even bigger and better house.

I wanted to share that with you, because right now is a great opportunity to take advantage of what we’re seeing in the market and cash out on that equity. Use that for the down payment on the next house and leverage these great interest rates that we have, because through that large down payment that you can likely do because of the equity that you’ve gained, you can still get an excellent competitive interest rate and maybe not even increase your payment from what you’re paying right now and get your family into a bigger and better house. Especially, if you’re working from home and experiencing everything that a lot of us are with interruptions for work, maybe get a home office, maybe a home gym so you don’t have to go to the public gym and be around all those germs.

So give me a call if you’d like to talk about your options, we can definitely dive into it.  You can text or call me at 303-670-0137 or email me at baxterteam@fairwaymc.com. Maybe your refinance does make sense, rates are still at historic lows for most scenarios below 3% on a 30 year fixed.  If you still haven’t taken advantage of it and you still have a rate over 3%, give me a call and we can talk about that as well. Once again, my name is RJ Baxter, Fairway Independent Mortgage. You guys have a great rest of your day.