New Year, New Mortgage Plan: A Few Reasons on Why It May Be Time to RefinanceFeb 1 2010
New Year, New Mortgage Plan: A Few Reasons on Why It May Be Time to Refinance
Though it is difficult to see past the wake of the recession, there may actually be one advantage to the rebounding market, and that's the historically low interest rates! In addition to being an opportune time to purchase a home, it may also be an ideal time for existing homeowners to consider refinancing to a lower rate.
Reduce Some Financial Stress!
In the midst of these tough economic times, nearly everyone is experiencing some sort of financial burden. A key way in reducing some of your financial strain is by lowering your monthly mortgage payment. If you find that your current mortgage payment is too high, consider consulting with one of our loan officers about whether refinancing now is right for you! In addition to lowering your interest rate, you may even be able to free up some cash for those home renovations you've needed to do!
Make Those Historically Low Interest Rates Yours
Lately, interest rates have been trending around 5.000%, with minimal fluctuations. If you're finding that the current rate on your mortgage is at least 1% higher than these current running rates, it may be beneficial to see if refinancing is right for you. Ideally, a lower interest rate is equivalent to both a lower monthly payment, and also a lower paid interest on the life of your loan.
Last, But Not Least...
Browse around our website and make sure you check out our refinance calculator; it will give you a good estimate as to how much money you could be saving on your mortgage payment! Also, make sure to consult with one of our loan officers as to the loan program and term that best suits your needs! To get in touch with one of our loan officers, please visit our contact page or call 1.866.934.RATE!