Tidewater Real Estate Blog

August 16th, 2010 3:30 PM
Shorter-Term Refis Can Save Big Money
Shorter-term loans are gaining favor as rates continue to fall.

On average at today’s rates, a borrower refinancing their 6.5 percent loan would save $70,000 over the life of a $200,000 20-year loan vs. a 30-year loan.

These kinds of refinances are particularly popular among people who are approaching retirement, said Peter Iche, president of Carthage Federal Savings and Loan Association in Carthage, N.Y.

Source: USA Today, Stephanie Armour (08/16/2010)

Posted by Brad Nichols on August 16th, 2010 3:30 PMPost a Comment (0)

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