There’s never been a better time to refinance your mortgage. It sounds crazy, I know, but look at the market. Your home has likely never been more valuable. Interest rates are at or near all-time lows. Housing inventory is tight, but they are building new homes every day and stabilizing the market. There is more than 1.1 BILLION dollars in unrealized savings out there for thousands of homeowners. Why refinance your mortgage, and why now? Because you can save thousands of dollars.
Refinancing your mortgage comes in a lot of different forms. You can do a straight refinance, cut your interest rate, and save money every month. That’s the easiest way to save money. A mortgage refinance to a lower rate will save you money.
You can use a cash-out refinance. A cash-out refinance is useful for a lot of different things. You can:
- Take money out of your home
- Pay off high-interest credit cards
- Roll your debt under a low-interest home loan
- Purchase a new car or truck
- Buy something you’ve always wanted
- Do some work on your home and increase the value of the home
- Or just put money in your pocket
A rate-and-term refinance is a way to save money on your interest payments for the home. You can refinance your home and shorten the term of your loan, and save thousands on the interest on the back half of the loan. A rate-and-term refinance gets you to the finish line faster and saves you money.
Last but not least, you can use a refinance to get rid of PMI. If you have an FHA loan, like thousands of homeowners, you are paying Private Mortgage Insurance every month. Once you have 20% equity in your home, you can refinance and get rid of that extra payment.
As you can see, there are lots of ways to refinance. Why now? Home values are skyrocketing and interest rates are still low. Take advantage, guys!
If you’re ready to take rising home rates and low interest rates and use them to your advantage, 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?