Analyze My Mortgage 


You may have heard or read that you should only refinance when you can lower your interest rate by 1%. In my experience, this may not always be the case. It may make sense to refinance by lowering the rate by just 0.25 percent. For example, if you are paying mortgage insurance, you may be able to eliminate this payment if your home has increased in value over the past few years. Plus, there are so many new options to eliminate PMI these days.  If you have an adjustable mortgage, you may want to convert to a fixed mortgage to lock in a low interest rate.  In order to decide whether or not it's time to refinance, it is necessary to calculate your payback period. The shorter the payback period, the better.  As a general rule, if you can recoup the finance charges within 14-24 months, it's a good deal. Deciding to refinance can be simple or complex depending on your situation and financial goals. It’s never “One Size Fits All”. I'd be happy to meet with you to discuss your options and whether or not it makes sense for you to refinance at this time. Should you refinance? To answer this question, complete the section below for a comprehensive analysis.

Disclosure:  This is not a guarantee to extend consumer credit as defined by Section 1026.2 of Regulation Z. Programs, interest rates, terms and fees are subject to change without notice. All loans are subject to credit approval and property appraisal. First Home Mortgage Corporation NMLS ID #71603 ( ). Clay Carroll NMLS ID 513125 Licensed in VA. Equal Housing Lender.


NOT ACCEPTING NEW YORK APPLICATIONS. First Home Mortgage Corporation of America, First Home Mortgage Services, and First Home Mortgage Company of Maryland are d/b/a's of First Home Mortgage Corporation. First Home Mortgage Corporation is licensed in Connecticut, Delaware, District of Columbia, Florida, Georgia Residential Mortgage Licensee (Lic. #23135), Indiana, Kentucky, Maine, Maryland, Massachusetts Mortgage Lender and Broker (Lic. #MC71603), Michigan, New Hampshire, Licensed by the New Jersey Department of Banking and Insurance, North Carolina, Pennsylvania, Rhode Island Licensed Lender and Broker, South Carolina, Tennessee, Virginia, West Virginia. Equal Housing Lender. First Home Mortgage Corporation NMLS ID #71603 ( Privacy Policy.

Clay Carroll

Sr. Loan Officer

1 Park West Circle, Suite 106, Midlothian, VA 23114

NMLS# 513125