What jaw-droppingly, fantastically beautiful days around Lake Keowee currently!Temperatures are hovering, at the worst, in the high 70’s and the skies are close to crystal clear blue. These are the chamber of commerce days we speak every year about this time. Poems are written of days like these. The kind of weather that makes you want to find as many excuses as you can to get out into. Again, the Lake Keowee area has one of the best 4 season climates in the world with LONG spring and fall seasons, which extends your enjoyment of the lake dramatically.
We’re beginning to see a bit of a tapering off of activity as we get into the fall season. Many folks’ minds have gone from getting out on the lake and getting to the football game, the cook out, etc. That hasn’t stopped us from being busy though as we were able to get a $1.2M Lake Keowee waterfront lot under contract and visit with 3 different folks about listing their Lake Keowee properties. Sometimes, we think it’d be nice to slow down a bit, but then we realize that means we don’t make any money and the thought self corrects quickly!
We need more good listings to sell those folks who are taking advantage of this beautiful time of year to view Lake Keowee real estate. Let’s meet. We can have a conversation about your Lake Keowee property and see what a good plan for you may be now or in the future!
Choosing the right mortgage will affect your very financial future. Here’s vital information to help you weigh your options and make a sound decision.
An Insider’s Guide to Understanding Mortgage Loans
When it’s a good time to refinance
Next, figure out what you’ll have to pay up front. Then calculate your monthly savings. With these two numbers, you can figure out how long it will take you to cover the cost of the new loan. For example, if refinancing costs you $5,000 up front and saves you $200 a month in mortgage payments, it will take 25 months to cover your costs. If you’re not planning to move for several years, refinancing makes a lot of sense. But if you’re going to look for a new home in two years, you wouldn’t really be around long enough to reap the benefits. In fact, you’d lose money in this situation.
If you refinance today and rates drop even further in the next few months, you’ll miss out on additional savings. If you refinance to save $10 or $20 off your mortgage payment, then you’ll have to stay in your home forever to see it pay off.
Warning: The math is easy for fixed-rate loans, not so easy when you’re talking about ARMS. If you don’t feel comfortable running the numbers yourself, ask your lender or Realtor for help.
