3 Things To Consider When Refinancing

The refinancing process is a necessary evil for every homeowner.  It seems like a lot of work, people looking at your credit, expenses, etc.  A refinance right now, though, while rates are super low, can really help your bottom line and deliver you a much-needed injection of cash every month.  So, if you are thinking about it, here are 3 things to consider when refinancing.

Is It The Right Time?

OK, this one should be easy.  Look at your current mortgage statement.  Is your interest rate in the 2’s?  If not, you’re paying too much for your mortgage.  Rates are so low right now that it’s almost a no-brainer that you would need a mortgage refinance.  Remember, there’s no cost to find out if you can get a lower rate.  Applications are free at The Home Loan Expert.

Is Your Current Lender Your Best Bet?

If you’re already a mortgage client with us, please call us.  We love to hear from our mortgage customers to help them save more money after rates and conditions change.  If you’re not currently one of our clients, we want to help you join the family.  Give us a chance to work up a rate for you and we will do our best to save you money every month on your mortgage.

What Factors Should You Consider?

When you get a pre-approval with The Home Loan Expert, we give you a detailed report and meet with you in person, whether in our offices or at your home or office, to discuss the options for your mortgage.  Here’s what we show you to give you the complete picture.

Rates: The rate that you pay determines the monthly payment and the total amount that you’ll pay for the life of the loan.

Closing costs: Make sure that the closing costs don’t cost you more than you would save.  Luckily, most of our refinancers save upwards of $400 a month, making the transaction financially logical.

Closing time: You need to make sure that you get that rate locked.  We will lock the rate for you and ensure that you will only get a lower rate than that for your mortgage.  Locking in the rate guarantees that you will get that rate for your refinance regardless of the market during the process.

Cash Out: Can you use the equity in your home to pay off bills or put cash in your pocket?  We’ll let you know.

Types of Loan: If you’re eligible for an FHA or HARP loan to save you money, we’ll find out and let you know that you can save money that way.

Get Started

Call The Home Loan Expert, Ryan Kelley and take advantage of lower mortgage rates to buy your home or refinance and save money. Call us in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515 or Nashville at (615) 810-8555.

You can always apply online at www.thehomeloanexpert.com, and we’re also open on Saturdays to better serve you. Don’t forget to follow @TheHomeLoanEx on Twitter for breaking mortgage news and knowledge.  Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?

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