Why You Should NOT Refinance Your Mortgage

Looking to pull cash out from your home or get rid of mortgage insurance and considering refinancing your mortgage? What should you consider when doing a refinance? When does it make sense to do a refinance? Should you be worried about mortgage insurance (pmi)? In this video, we discuss when you should potentially consider refinancing and when it doesn't make since to consider a mortgage refinance.
⏩ Mortgage Refinance Explained - Refinance 101 - • Mortgage Refinance Exp...
⏩ 5 Mistakes to AVOID when refinancing - • 5 Mistakes to AVOID wh...
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Jeb Smith (huntington beach Realtor/orange county real estate)
DRE 01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ / jebsmith
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#housingmarket #housing #interestrates

[@JebSmith]

⏩ Mortgage Refinance Explained - Refinance 101 -th-cam.com/video/vAq_Gz1aCHY/w-d-xo.html
⏩ 5 Mistakes to AVOID when refinancing - th-cam.com/video/en2vD13t37A/w-d-xo.html
✅ - Get a Personal Referral to a Mortgage Expert or a Professional Realtor - www.jebsmith.net/referral

[@nicolasbenson009]

Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[@fxdnny]

Good stuff Jeb. I hate hearing about mortgage brokers recommending people refinance their sub 3% to pay off credit card debt. I understand they’re overall payment would be lower. An equity loan could be a better idea. Good advice

[@JebSmith]

Thank you!

[@bernitup6492]

I bet those listening to the crash bros. would give up an arm or a leg to get a low rate nowadays... that is what happens when you do not do your own research and believe everything that is in the internet.

[@JebSmith]

Agreed!!!!!

[@Jack-pd4ps]

Lol they were greedy. They chose to wait hoping they could get something off someone else for cheap.

[@bernitup6492]

Thanks Jeb. Started listening to you and Josh and in 2021 ended up getting my home at a 3% rate. My PMI us only $53 a month. I plan to call and remove it without refinancing.

[@JebSmith]

You made the best decision for YOU which is always the right answer.

[@theylive2749]

Thank you Jeb. Makes me feel better about having mortgage insurance. Remembering that without the MI we wouldn’t have gotten into an amazing home in this market helps with perspective!

[@JebSmith]

It's all about perspective!

[@noy6184]

Jeb should reach 200000 subscribers by June 2024

[@winniethepoohandeeyore2]

I DID THE MATH, INTEREST RATES would have to go down to 1.5 % to make it worth it to me to refi a 2.875%, will they ever go down THAT LOW? very doubtful! We overpay the $126 a month principal every month and have been ever since the very first payment was due. We have already knocked ALMOST 10 YEARS off the life of the mortgage in 3 years. We are already paying far more towards principal than interest which takes YEARS to do just by making the agreed upon payments. Each COLA we add another $10 which will make the overpayment on a $126 a month mortgage to $50 MORE a month starting in Jan 25 paying my home off even faster. Best thing we ever did was buy our house. 2nd best thing was buying an e bike.

[@Peter_Wang]

What are your thoughts on Navy Federal's "Homebuyers Choice" option?

[@Eager2BFit]

What about a investment properties with modified mortgage loans.
Could the owner cash-out refinance to purchase a primary residence?

[@pabawathieperera9118]

What are your thoughts about refinancing just before selling the property? Does it help? How? please answer
Thank you for your service

[@MyBabybabz]

I was at 4.75% to 2.86% my pms fell off when I did a modification. I bought in 2011. Golden cuffs

[@LandaverdeJR]

Jeb, should buyers(today) expect interest rates to stay high above 6% for the next 4-5 years?

[@JebSmith]

I personally don't think so

[@LandaverdeJR]

@@JebSmith if the “normal”for housing is for prices to rise 5 - 6% year over year than why should interest rates come down? It would just push demand up ands side ways(shifting prices)

[@RJ-cv2uw]

Just got an email from my mortgage lender offering me a 64K home equity loan. Almost reply with a middle finger

[@JebSmith]

hahahaha, send them a pic.

[@WhitehouseBenjamin]

I owe upwards of $500k on a 6.375. I’ve been paying an additional $1k/month on principal so when the day comes to refinance, I am ready

[@JebSmith]

Nice work.............

[@andrewr1125]

I am in a situation where I bought my house and at that time I did not have good credit to buy it alone, my sister helped me with her credit and now she wants to get out of the mortage. My interest is at 4.8, if refinance is now at 7%, what advice would you give me? Thank you.

[@rileydavidjesus]

Don’t lol

[@Aurel_official56]

MY NAME IS REFI😭

[@plywood7894]

I’m frustrated because you don’t explain what the words you’re using. What is a mortgage insurance?

[@PendingName]

You could have typed less words in Google