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Should I Refinance? Are you thinking about refinancing your home or investment property? There is a simple rule of thumb that applies. To determine whether or not refinancing would benefit you, take the amount it would cost you to refinance (points & fees), and divide it by the monthly amount you would save on your mortgage payment by refinancing. The result is the amount of time, in months, it would take to break even. After the break even point, that monthly amount would be MONTHLY SAVINGS.
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