Making a monthly mortgage payment that you can budget for is a luxury that many people take for granted. If you have a fixed mortgage, you know what your payment will be every month. If you have an ARM (Adjustable Rate Mortgage) or are renting, your payment can change at any time. Lock in your monthly mortgage price with a refinance or new mortgage now.
If You Have an ARM
Adjustable Rate Mortgages can turn on you in a hurry. You are at the mercy of interest rates and when they go up, you are stuck going up with them. However, you can refinance to a fixed-rate mortgage now and lock in your payment at the current rate to give yourself financial security for the life of the loan. This lets you budget properly and helps you keep up on bills. You can also use this refinance to take some cash out and pay off credit cards or make home improvements.
If You Rent
If you’re renting right now, there are problems ahead. Rents nationwide are rising year after year. Even if you are in a good situation now, your landlord can decide to raise your rates at any time after your lease is up. You are at their mercy. With housing at a premium, landlords feel that this is the time to make their money and raise rates on your home. You can avoid this by becoming a homeowner! If you are having trouble raising the money for a down payment, remember there are lots of lower down payment mortgage options for home purchases. An FHA loan from the Federal Housing Administration only requires 3.5% down. A VA loan is a zero down loan, requiring no down payment for qualifying candidates.
Call The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515, Nashville at (615) 810-8555 or Birmingham, AL at (205)721-7656. You can always apply online at hero.loan for your VA Loan, and www.thehomeloanexpert.com for your other mortgage needs, and will come to you to help close your loan. 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?