Know Your Mortgage Rate – Are You Paying Too Much?

With interest rates low and home values on the rise, many people don’t know that they are paying way too much every month for their home.  For homes that haven’t been refinanced since the 2008 crash, they could be paying 6-10% interest on their mortgage, instead of the 3% rate that homeowners are getting today.  That’s why you should know your mortgage rate – are you paying too much?

After the market crash, when thousands of homeowners lost their homes, interest rates dropped precipitously, making it easier for people not only to buy homes, but to make the payments and keep their homes.  Regulations on banks helped settle the market and keep rates low.  These low rates spurred the current boom in home ownership.

That’s why, if you are a homeowner who has had their home for years without refinancing, you need to take a hard look at your mortgage statement.  If you are paying more than 4%, you’re paying way too much,

The Home Loan Expert team has saved thousands of homeowners thousands of dollars by using programs such as the Home Affordable Refinance Program and loans from the Federal Housing Authority to help homeowners.  These programs are designed to help both prospective and current homeowners with their home ownership dreams.

Grab your mortgage statement from last month and look for your mortgage rate.  Then call The Home Loan Expert team and let us work up options for you.  We could lower your payment, shorten your commitment, take cash out of your home to pay off bills, r sometimes all 3, depending on how high your current rate is.

If you know you’re paying too much for your mortgage, 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. We work hard to make it easy on you.  Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?

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