Financing in Queens>Question Details

Trulia Queens, Other/Just Looking in Queens, NY

What Is the most common mistake borrowers make in assessing the benefits of refinancing?

Asked by Trulia Queens, Queens, NY Mon Apr 29, 2013

0 votes Share Flag Financing in Queens

Help the community by answering this question:


Michael Cheng’s answer
Probably the most common mistake is confusing cash flow savings for actual interest savings in determining the breakeven point of a refinance. A lender can lower loan payments by restarting the payment terms while increasing the amount of interest paid.
Web Reference:
3 votes Thank Flag Link Mon Apr 29, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer