Considering the Possibility of Refinancing – A Great Opportunity That May Not Last Long
Have you seen the interest rates out there lately? Depending on the loan product of choice, buyers (and homeowners doing refinances) are seeing as low as the mid 2% range for 15 year fixed rates mortgages and low 3s for the typical 30-year fixed rate loans.
What a lot of homeowners don’t realize is that even if they are not planning to buy or upgrade anytime soon – now is a fantastic time to refinance your home to reduce your monthly payment by a significant amount. But there is only one way to really know just how much you can expect in terms of savings.
Meet with your loan officer to discuss exactly what your existing mortgage is, how much you can qualify for in terms of today’s low rates and the amount it would cost to obtain the refinanced loan. Matt goes through and does an analysis to determine how long before you would break even – and it usually amounts to about one year.
This is one fantastic opportunity to lock in historic low interest rates and there is no telling just how long these will last. If you feel there is a half to one percent opportunity to lower your rate, visit your loan officer today!
Of course if you have been dreaming of moving into a larger home, downsizing, changing your type of residence (going from a single-family home to a condo) or upgrading for another reason – now could not be a better time.
Contact us today to learn more.
Matt can be reached at 541-323-7000 or you can reply to this email or call me at 541-390-6005. If you prefer emailing, send one to [email protected]. We look forward to serving you soon!
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