Get a Mortgage Check Up (What You Want To Know Wednesdays)

It’s a great idea to get a mortgage check up here and there, just to make sure your loan still has the best terms for you. There are several advantages to refinancing your existing mortgage.

The beginning of the year is a great time to speak with a mortgage professional to see if you would benefit from a refinance. Don’t let the benefits of a refinance slip away!

Rates are still historically low – Although we have seen a slight rise in interest rates, they are still historically low. A refinance could lower your interest rate or shorten the term of your loan.

 

Your financial situation has changed – Situations change all of the time. You could have gotten a better paying job since you first got your mortgage, or perhaps you have difference expenses now. It’s beneficial to speak with a professional to see if you can save some money with a refinance.

 

Other kinds of debt – Do you have other debt? Are credit card, auto-loan, or personal loan bills bogging you down? You may benefit from a cash-out refinance. You can get a better rate, and have money to pay off some other debts.

 

You were hit hard by the housing crash – There are programs to help you get ahead of the hardship the crash caused.

 

You want to make a big purchase or go back to school – Refinancing can help pay off debt, but it can also help you make new purchases or continue your education.

 

Contact one of our friendly mortgage professionals today!

 

**Bankrate.com


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.