How To Make Your St. Louis Mortgage Work For You

How To Make Your St. Louis Mortgage Work For You

Mortgage-PaperworkYour mortgage is the biggest bill that you have to pay every month. However; it doesn’t have to be as big as it is right now. There are a variety of ways to lower your monthly payment and put money back in your pocket every month, with today’s low interest rates. Don’t feel stuck in your mortgage another second, and don’t just make your mortgage payment every month without looking. Get out of the monthly billing doldrums with help from The Home Loan Expert!

There are several ways to do this. A refinance is the best one. It doesn’t matter if you want to lower your payment, get out of credit card debt, make improvements on your house, or shorten your commitment on the loan. Refinancing your mortgage right now, if your interest rate is not in the 3’s or better, is the best way to save money every month on your loan.

If you have a loan through Sallie Mae or Freddie Mac, you may be able to refinance with a HARP Loan, using the Home Affordable Refinance Program. HARP was created in March, 2009 by the Federal Housing Finance Agency to assist home owners, as the dropping home values caused by the massive market correction were forcing people out of their homes. HARP would let them refinance to a lower rate to keep them in their homes. However, this seemed unfair to those who had been current on their loans, and were making payments on their homes, despite the high rates. HARP 2.0 then followed, allowing those borrowers who weren’t underwater on their loans to refinance at these more favorable rates, in December, 2011. The requirements also loosened, allowing those who owed more than 125% to refinance without getting Private Mortgage Insurance. The mortgage lender was now guaranteed to not be held for fraud on the original loan, which led to more lenders signing up for the program. More often than not, we close HARP loans without even needing an appraisal at all.

HARP is a great way to get your interest rate down and lower your monthly payments. If you don’t qualify for HARP, though, there are many other loan programs that will get your monthly payments down, depending on your eligibility. An FHA (Federal Housing Administration) Loan could be your ticket. You may be eligible for a VA (Veterans Affairs) Loan if you or your spouse served in the military. A USDA (United States Department of Agriculture) Loan could help you in a rural area. Or you could go for a conventional loan if you have great credit or high equity in the home.

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However, none of these options will work if you don’t act. It’s time to make sure that you are paying the lowest amount every month for your mortgage. The Home Loan Expert, Ryan Kelley, gets the lowest interest rates on the best loans every day. It’s how he became the number one loan originator in the St. Louis! Call today in St. Louis at 314-781-9700 or apply online at www.thehomeloanexpert.com today. Nobody makes it easier to lower your monthly mortgage payment that The Home Loan Expert.

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