“The rumors of my death are greatly exaggerated.”The famous quote attributed to Mark Twain can apply to homeownership in the United States today. During the housing bubble of the last
When to Refinance Your House - Things to Consider
- Scoring a lower interest rate. The number one reason homeowners decide to refinance is to secure a lower interest rate on their mortgage. Not only does this save you money in the long run and decrease your monthly payment, but you can start building equity in your home sooner.
- Using an improved credit score. Even if interest rates have not dropped in the market, if you’ve improved your credit score over the last few years, you may be able to reduce your mortgage rate.
- Shortening the loan’s term. If interest rates are decreasing, there is a chance you may be able to get a shorter loan term with little to no change in your monthly payment, allowing you to pay off your loan sooner.
- Switching from an adjustable rate to a fixed rate. If you chose an adjustable-rate mortgage with great introductory rates when you initially financed your home, that rate may increase significantly over the years. By switching to a fixed rate while interest rates are low, you can protect yourself from future increases.
- Cashing out home equity. If there is a big purchase or payment on the horizon, such as funding a wedding or going back to school, your best option may be to use the equity you’ve built in your home to borrow money at a lower cost.
Buying or selling a home should be a joy, not a burden. What if you could experience less stress, top notch service, and better outcomes when buying or selling a home or investment property? You've c....
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Today I want to share something personal with you. Real Estate is my passion but I do have other passions too. I love speed skating! I’ve been competitively skating for many years, mostly