Generally, it makes sense to refinance if you plan on staying in your home for many years.
If you plan to sell the property soon, don't refinance. Refinancing could take years to break even and begin saving you money.
30
237 reads
The idea is part of this collection:
Learn more about moneyandinvestments with this collection
The importance of innovation
The power of perseverance
How to think big and take risks
Related collections
Similar ideas to How long you keep your home
Even if refinancing makes sense in your situation, you'll still need to qualify. Your ability to refinance depends on factors such as the amount of equity you have in your house, your income, and your credit.
If you qualify, it's important to get quotes from multiple lend...
Many of us rent a home or an apartment because we cannot afford to purchase a home, or because we aren't sure where we want to live for the long term. And that's fine. However, renting is often not a good long-term investment because buying a home is a good way to build equity.
Unless you i...
Don't over-plan and under-act. Thinking and planning are vital to your success, but action is even more important.
You can't get real progress if you don't take action. When you read a book or article on taking action, immediately apply something from it, even if it is sma...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates