Refinancing involves replacing an existing loan by paying it off with a fresh one. Such an act usually costs somewhere between 3% and 6% of the loan’s principal amount, along with application fees, title search, and an appraisal. Since refinancing is a big decision to make, understanding whether this move could actually save you money is essential. So, the following reasons will help you know whether youn should consider mortgage refinancing.
Lower interest rates
Keep an eye out for lowering mortgage refinance interest rates in the market, and just when the rates drop, you can consider refinancing to pay significantly less in monthly payments. Today, the norm is that if mortgage refinance can give you even 1%-2% in lowered interest rates, it is a viable idea for a homeowner.
Shortening the loan term
As you refinance due to the change in mortgage refinance interest rates, you can even choose to reduce the loan term. Instead of paying a mortgage for 30 years, you can even half that time if the change in interest rate is significant. Keep your calculator handy and get a deal that will get you out of mortgage payments sooner.
Adjustable-rate mortgage (ARM)
In case of a forthcoming significant rise in interest rates, mortgage refinancing is a good move as you can choose to opt out of ARM and turn to a fixed-rate mortgage. This move reduces the risk of paying higher interest due to market fluctuations and increase your monthly payments. But rest assured there is a fixed interest rate that helps you keep your finances checked and secure.
Some homeowners refinance to cash out the equity in their homes. This equity is used for major expenses like home remodelling or a child’s college education. While this move may seem ideal at the time, refinancing also means deciding on mortgage terms. For some homeowners, this decision can keep them from getting out of debt and compel them to continue paying mortgage for several years ahead.
Changing ownership rights
Refinancing is an opportunity for any homeowner who wants to make a change in documents related to borrowers’ names on the loan agreement. If the house is bought by spouses who are now divorced, friends who are no longer in partnership, or any other two entities who need a name removed from the borrower’s list, this is an opportune time for them to put in those changes.
4 ways to save on communication expensesRead More...
Living on a tight budget in today’s expensive city life is very difficult and tasking. A lot of people move to bigger cities for making a better living. While living in a busy city might be a dream for many, it is quite difficult to save up and cut back on expenses for the common man. With several users, cell phones have now become a necessity. However, with an increasing number of people using cell phones, the cost of communication is on the rise in big cities. Moreover, since many businesses solely run on communication the cost of cell phones and the related services is ever increasing. Therefore, to cut down on communication expenses, many people are applying for free government cell phones. Here are a few simple tips to save up those extra bucks while living the big expensive city life.
Apply for free government cell phones
The government has been helping citizens with taking care of their expenditure and savings. These days, a lot of people are applying for free government cell phones, which help you in saving up funds. With free government cell phones, the government pays for your calls and texts and completely takes care of all your mobile payments. However, when applying for free government cell phones, the government keeps track of your income, taxes, food stamps, etc. to ensure you fall under the category to avail of free government cell phones. This helps you cut back on phone-related expenses like mobile data, calls, and texts.
Apart from applying for free government cell phones, some other ways to save money are as follows:
Use electricity saving electronics
A lot of brands these days create energy saving electronics and equipment to ensure you save up on electric charges. Brands create energy saving bulbs, lights as wells as refrigerators, televisions and air conditioners which consume less electric current. These are divided into 4-star to 5-star savers, which save max electricity. These types of power saving equipment and electronics are expensive, but this should not scare you from investing in them as these are long-term power saving options. The more you use these electronics, the more you save up on electricity bills.
Opt for kitchen gardening
Grow your vegetables and herbs in your kitchen garden or balcony gardens. The first months before the first harvest are the longest, but if you are patient enough, your tiny kitchen and balcony gardens can yield the best harvest which you can use for weeks! You can have your very own organic fruits and vegetables without paying huge amounts for these in supermarkets!
Use local transport
Use the local buses, trains, and metros to reach to your work or everyday destinations in the lowest fares and on time. This not only saves your money but also saves your time which you will end up wasting in hours of traffic. With the rising fuel prices, use your car or bike only for short distance traveling and shopping.
Google Pixel 2 reviewRead More...
Google’s Pixel 2 is one of the most popular Android phones reviews people want to read. If you are looking for fair Android, iOS, or Windows phone reviews online, you are in the right place.
Below is a review of the Google Pixel 2, which will help you to make a fair and judicious choice before you head to the store to make the final purchase.
Starting at about $649, Google Pixel 2 is a viable smartphone which is a good combination of software from Google and a good camera packed into the smartphone.
In many Android phone reviews, a mention of the design aspect of Google Pixel 2 has been made. It measures 5.7 x 2.7 x 0.3 inches and fits easily into a single hand. This aspect has earned it much acclaim among mobile phone reviews as many people prefer a smartphone that can easily fit in one hand.
Its metal and glass back add a unique texture feel to the smartphone and makes it truly viable for the cell phone users. Different android phone reviews also point out that Google Pixel 2 is available in white, black, or blue-grey colors, which offers ample options for the avid cell phone users who might only wish to purchase the Google Pixel 2 smartphone. However, this smartphone does not have any memory card slot, no headphone jacks and no dual-SIM version which has not gone well in different android phone reviews available for Google Pixel 2.
- Battery and connectivity
Mobile phone reviews also highlight the battery aspect and connectivity options available for Google Pixel 2. It offers ample Wi-Fi support which is at par with that available for Samsung Galaxy smartphones and has Bluetooth 5.0 and NFC features. It comes packed with a 2700 mAh battery that lasts 8 hours and cannot be considered very good for a smartphone of the size of Google Pixel 2 according to android phone reviews available for Google Pixel 2.
Google Pixel 2 is known for its camera capabilities, a rare feature that has earned it accolades in different mobile phone reviews. It has a 12.2-megapixel camera that is considered among the best smartphone cameras.
Google Pixel 2 has another amazing feature that none of the Android smartphones on the market can offer. This smartphone comes with exclusive Google assistance feature which can make your life easier in a lot more ways than you might be able to think about.
Google has its own dedicated set of customers, and they have taken up Google Pixel 2 will gain much appreciation and acknowledgment. The smartphone despite its many shortcomings is undoubtedly worth purchasing, and you should definitely give it a try, in case you are still waiting to buy the same.