As Low as You Can Go

Convention Rates are at the lowest rate they have ever been! It won’t get any cheaper to borrow money than right now. After the election, no matter who wins, people believe the interest rates will go up, so it is important to consider the 30 day window given to lock in these record-low interest rates.

How Can You Benefit from These Historic Low Rates?

- Refinance AGAIN because it is even lower now and you can save a few hundred (depending on your loan amount) if you do it again

- A 1% increase in interest rate is more important and a 10% increase in the value of the home long term.

- If the lower payment of your new mortgage recoups the closing costs in 24 months or less and you plan to keep the home for at least that long, then refinancing can be worth it.

- Buy a home or rental property because of these low interest rates and low home prices – the amount you can save in interest payments over the length of your loan is huge!

- Refinance your home. Now is a good time to switch to a fixed-rate mortgage. While you’re at it, look into refinancing your 30-year mortgage into a 15-year loan so you don’t inadvertently add many years of interest payments to your mortgage.

Reap the benefits of these record low rates now before they finally rise (because they will) and be smart about your spending! Don’t wait for the “rock bottom” any longer – it is NOW. Give us a call to discuss many great loan plans for you and get into your dream home for a fraction of what it is truly worth!

 

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