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How to Refinance a Home & Save Money

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Part of the video series: Real Estate Investment Tips

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Summary: Refinancing a home saves money when the current rates are low. Refinance a home and save money using the real estate tips in this free video.

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By Richard Blake
eHow Presenter

Richard Blake is a licensed real estate agent that has closed more than 20 times the number of transactions per year than that of the average realtor in Pinellas county, Florida for...read more

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"Interest rates are a moving target. I'm Richard Blake with The Richard Blake homes team. I'm here to assist you in refinancing your home and save you some money. If your at the point where your contemplating refinancing your home. You've probably come to the conclusion rates are much lower now than they were when you actually financed you home on the first round. Generally speaking your going to want make sure that the interest rates are at least one percent lower. Than your current, than what your current interest rate is or what your current mortgage and if it's any higher than that you, I would really not conceder refinancing at all but if it is. Then the next step would be to contact a local, a local mortgage broker. First contact who ever you have your original loan with and ask them if they can save you any closing costs or any refinancing costs. Based upon your loan already being with them and that may save you some money. If you are if your current mortgage is with a bank. You may want to conceder contacting a mortgage broker. Who will be able to shop multiple lenders and multiple banks rather than just one banks certain loan programs. Again this may help you find a better rate in the long run as well. So there's a couple different options that you have there. Again you just want to make sure that you are going to able to get at least a decrease of one percent in your current interest rate. To move forward on that and at that point in time. Speak with your bank or contact your local mortgage broker. OK, I'm Richard Blake I hope that helps you a little bit on how to refinance your home. Thanks."

eHow Article: How to Refinance a Home & Save Money