If you’re thinking of selling your home, and you’ve recently refinanced (or are considering it), you may be wondering if it’s a good idea.
In many cases, it is.
There’s no one-size-fits-all answer to that question, though. Your best bet is to talk to a Realtor(R) who can help you make the right decision.
Should You Sell Your Home in Grand Junction After Refinancing?
If you decide to sell your home after refinancing your mortgage loan, you’ve got a lot to think about. Your main goal: to be sure you’re making the most out of your situation. Having a good understanding of your current loan terms will help you with that.
The conditions of your current mortgage will tell you if there are any prepayment penalty fees. Most mortgages include that in the fine print, so this is something you’ll need to consider. In many cases, you’ll also be required to pay closing costs and paperwork fees on your refinance loan.
If paying off your loan early doesn’t allow you to get ahead, you may want to wait it out.
Are There Advantages to Selling After Refinancing?
Most people find that there are some advantages to selling a home after refinancing a mortgage. If you have equity in your home, for example, you may be able to benefit from cash-out refinancing.
Once your original loan is paid off, cash-out refinancing allows you to keep the difference. You can put this money toward a down payment on a new home or even make home improvements on your existing home. In some cases, small improvements (nothing major!) can help you sell your home faster… and at a better price. (It’s always a good idea to talk to your Realtor before you decide to make home improvements to sell a house, though; some investments don’t pay off at the closing table and could end up costing you much more than they were worth.)
Are You Selling a Home in Grand Junction?
If you’re selling your home in Grand Junction, we’d love to help get it in front of all the right buyers.
Call us at 970-765-4135. In the meantime, you can:
- Get a free market snapshot
- Find out how much your home is worth… for FREE
- Discover how we’ll market your house