If considering a Port Richie real estate mortgage refinance, even a small rate cut can pay off quickly. That's because you can easily find mortgage loan companies willing to waive routine refinancing charges such as application, appraisal and legal fees (which can add up to $1,550 to $3,100). Of course, in exchange for low or no up front costs, you'll have to be willing to accept a mortgage loan rate that's somewhat higher than the prevailing rock bottom. For the best Port Richie Florida mortgage loan rates, do a rate search now.
When you apply for a loan you can wait for a while to see if interest rates go down. This is known as a "float." At some point during the loan application and approval process you as the borrower will have to decide to lock in the Port Richie Florida rate, and the rate for your loan will then be the current rate on the day that you lock in. Basically, the decision to float or lock relates to how willing you are to gamble that rates will be lower tomorrow or next week.