Meet Jack and Jayne (Cappabianca) Lamb Who are we anyway? While the “J Lamb Realty” office has been opened only since January 2005, we have been around for a while. Jayne (Cappabianca) Lamb has twelve years in the real estate business while working with several local brokerage firms and is a lifelong resident of Winchester. Jack Lamb has eight years experience as an agent/broker and is also a certified project manager (PMP)and a HUD certified Broker. We are both full time Realtors. License #REB 0755855 Please Sign Up For The Latest Listings and the Latest Real Estate News
About Appraisals >Refinancing Your Home
Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.
You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges. The biggest factor in your decision should be the length of time you plan to remain in your home. If you will be there for only a year or two more, it might not pay to re-finance. If you will be in your home longer, re-financing could provide you with lower mortgage payments. Your real estate agent can help you work out the numbers and can refer you to reputable home appraisers and mortgage lenders.
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What does the abbreviation PITI stand for?
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Principal, Interest, Taxes and Insurance are the four major items included in a monthly mortgage payment. |
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