MoneyWise

Rob West

Facts About Refinancing

February 19, 2020
00:00 25:00

You may have noticed that the Federal Reserve has been lowering the prime interst rate lately and like day follows night, mortgage rates have fallen too, so is now the perfect time to refinance your home? Today on Money Wise, Steve Moore and Rob West discuss what you need to know about refinancing your home. 

 

•          Mortgage rates are near 3-year lows which is encouraging many homeowners to refinance. 

•          Even with lower interest rates, refinancing doesn’t always make sense. Your new interest rate must be low enough to make refinancing worth the money you’ll spend in closing costs. 

•          Time Matters – How long do you plan to stay in your home? You’ll need time in your home to make up for what you’ll spend in closing costs. 

•          There is no such thing as a no cost loan. 

•          Refinancing is the only way to get rid of FHA mortgage insurance. 

•          Refinancing can be a golden opportunity to get ahead financially. 

 

In today’s show we also answer your questions:

 

•           A company has told me that they can settle my IRS debt. Is this reliable?

•           How do you save when you have very little income?

•           What is your opinion on tithing on social security?

•           What is the best option for my money once I retire?

 

Ask your questions at (800) 525-7000 or email them at questions@moneywise.org. Visit our website at moneywise.org where you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

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About MoneyWise

MoneyWise is a daily radio ministry of MoneyWise Media. Hosted by Rob West, the program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

About Rob West

Rob West is the host of the nationally syndicated radio programs MoneyWise and The MoneyWise Minute heard on more than 900 radio outlets each day. Rob also serves as the President of Kingdom Advisors, an international community of financial professionals who are specialists in delivering biblically wise financial advice. Rob serves as primary spokesperson for the organization and gives leadership to organizational strategy.

A radio veteran, Rob previously co-hosted a live, call-in, financial radio program with his father from 1998 through 2008 at WAFG, Fort Lauderdale, FL. Rob has dedicated his professional career to working at the intersection of faith and finance having led a successful faith-based financial services firm, serving as the host of several radio programs on a biblical approach to finance, and speaking frequently on the topic. Rob and his wife, Julie, live in Marietta, GA with their four children.


 

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