Lower Rates
Right now, mortgage rates are back down to historic
lows! On a mortgage balance of $150,000 at 7.5%, you are
currently paying $1,049 Principle & Interest. Consider
getting your rate down to 6%, that payment is $899, a
savings of $149 monthly. Rates have been below 6% for
most of the year, so savings can be greater and greater
– especially NOW!
Shorter Time Frame
Perhaps your goal is to pay down your mortgage balance
as quickly as possible. By refinancing to a shorter
term, such as 15 or 20 years, you can save literally
tens of thousands of dollars between the shorter time
and lower rate! Consider a 30-year, $150,000, 7.5%
mortgage, the payment is $1,049/month. However, a
15-year mortgage at 5.25% payment is only $1,205 for a
total savings of $160,000 over the life of the loan.
Debt Consolidation
Do you have high interest credit cards or other
non-mortgage debt? Do you have a Home Equity line with a
higher-than-normal interest rate? We have helped
borrowers save literally thousands of dollars by
consolidating credit cards into one mortgage payment –
and it’s tax deductible which means a larger refund from
Uncle Sam!
Recently Married / *Divorced
If you have been recently Married and you need to add a
borrower to the loan, we can help! The new borrower will
start to build positive credit and it only takes a few
weeks to complete the process.
Cash Out
If you have ever wanted to get hold of some of that cash
value that is tied up in your home's equity, then it is
possible that a cash out mortgage may be your ticket.
These mortgages are becoming
popular lately because they enable people like you to
get the access they want. The cash becomes yours to do
with as you please once your mortgage becomes approved.
Here is what you need to know about cash out mortgages
to help you decide if it is for you.
*If you have been recently
Divorced and need to remove someone from your mortgage
or take out cash to pay off debt, we can help! Give us a
call to discuss today…260-494-1111.
 |
