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Menlo Park Refinance Information - Pay Points For a Lower Rate

When refinancing your Menlo Park home, a mortgage company usually offers a range of interest rates at different amounts of points. A point equals one percent of the loan amount. For example, two points on a $200,000 mortgage loan would add $4,000 to the refinancing charges. Analzying various interest rates and associated points may save you money. As a rule of thumb, each point adds about one-eighth to one-quarter of one percent to the interest rate the mortgage company is offering. Generally, the lower the interest rate on the loan, the more points the lending institution will charge. Some companies offer refinancing with no points, but generally charge higher interest rates.

To decide what combination of rate and points is best for you, balance the amount you can pay up front with the amount you can pay monthly. The less time that you keep the loan, the more expensive points become. If you plan to stay in your Menlo Park home for a long time, then it may be worthwhile to pay additional points to obtain a lower interest rate. Some companies may offer to finance the points so that you do not have to pay them up front. This means that the points will be added to your loan balance, and you will pay a finance charge on them. Although this may enable you to get the financing, it also will increase the amount of your monthly payments.

Pay Points for Lower Rate Cash Out Refinance Deciding to Refinance
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Additional Menlo Park Refinance Information


santa clara county

campbell cupertino gilroy los altos los altos hills
milpitas morgan hill palo alto san martin mountain view
santa clara saratoga stanford sunnyvale los gatos mtns
los gatos san jose monte sereno blossom valley west san jose
cambrian evergreen east valley almaden valley central san jose
santa teresa willow glen north valley south san jose

san mateo county

atherton belmont brisbane burlingame daly city
colma hillsborough foster city el granada east palo alto
la honda loma mar menlo park millbrae half moon bay
montara moss beach pacifica pescadoro portola valley
san bruno san carlos san gregorio san mateo redwood shores
woodside redwood city south san francisco

santa cruz county

capitola scotts valley soquel watsonville bonny doon
davenport north coast freedom corralitos la selva beach
aptos rio del mar seacliff ben lomond san lorenzo valley
brookdale boulder creek felton live oak lompico-zayante
santa cruz

monterey county

carmel carmel valley del ray oaks fort ord marina
monterey pacific grove pebble beach salinas seaside
aromas castroville carmel highlands prunedale big sur
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san benito county

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san juan bautista

san francisco county

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alameda county

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emeryville fremont hayward livermore newark
oakland piedmont pleasanton san leandro san lorenzo
sunol union city

contra costa county

alamo antioch bay point bethel island byron
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777 Mariners Island Blvd. Suite 125, San Mateo, CA 94404
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Additional Menlo Park Information:
Menlo Park is a well-to-do peninsula town located in San Mateo County. On its residential streets you will find beautiful houses and plenty of trees. The city’s name comes from the name for the estate of Dennis J. Oliver and D. C. McGlynn, who named their property Menlo Park, which was later used to name the railroad station, and finally the city. Menlo Park lies between US Highway 101 and Interstate 280, within close proximity of Stanford University. Menlo Park, like most of the peninsula, saw a post-WWII population boom, especially with the construction of Dibble General Hospital, a military hospital. Then, of course, there was the dotcom boom in the late 90’s which was centralized not far from Menlo Park in Silicon Valley. The city provides essential services like transportation, recycling, public works and waste collection. No matter what your interest are, there are many entertainment opportunities. For those who like the indoors there are libraries, museums, theatres and malls. For the outdoorsy people there are numerous parks and open space with trails. The Menlo Park Bicycle commission sees to it that old bikeways are maintained and new ones are constantly being created. With everything that Menlo Park has to offer, there’s no reason not to live there.