“Refinancing and Giving up a 3.5% Rate”

     “Refinancing and Giving up a 3.5% Rate”



Mr. Petrowsky,

To tell you the truth, when we spoke on the phone regarding paying off my short term debts, I thought a home equity line was the answer, but my bank turned down the loan saying that my debt ratio didn’t work. I am thankful they referred me to you.

I was a bit taken aback when you recommended refinancing my first mortgage which you obtained for us 4 years ago at a 3.5% rate. Advising me not to stay attached to that rate compared to how much overall savings we could accomplish each month.

You had our attention after running the numbers, we could save $950 per month, plus the interest on the mortgage is deductible compared to nothing being deductible with our short term debts. This was a no brainer. Thank you, thank you as our lives are now financially better.

You will be receiving a call or email from Jon XXXXXXXX one of my co-workers, he needs your help.



Saving nearly $12,000 a year is real money, no matter if you have to give up a 3.5% rate to get that kind of savings. If you were in a similar situation what would you do?



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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 3 commentsJoe Petrowsky • February 14 2020 02:35PM


Good morning Joe. Often the lower rate, when all other factors are considered, is not the solution but part of the problem. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 8 months ago

Sometimes there is more to refinancing a mortgage than the interest rate. There could be additonal fees, points and new escrow etc 

Posted by Sham Reddy CRS, CRS (H E R Realty, Dayton, OH) 8 months ago

Good morning Joe. That is real money and they are lucky they have you to explain it.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 8 months ago