Title: Best Times To Refinance Your Mortgage
1(No Transcript)
2Best Times to Refinance Your Mortgage
3Is It Time To Refinance Your Mortgage?
4There are a number of reasons to consider
refinancing your mortgage.
5If you are eligible for a VA Loan, or even if you
currently have one, there may be no better time
than the present to investigate refinancing
options.
6LOW INTEREST RATES
7- While interest rates are currently at historical
lows, the widely held consensus is that the
Federal Reserve Board will begin slow, modest
periodic rate hikes in the immediate future.
8- It is a great time to lock in at the current rate
before that acceleration begins. Check the
existing rate of interest on your mortgage.
9- It is possible that refinancing now may decrease
the interest rate associated with your mortgage.
Lowering the interest rate can have dramatic
results.
10- Generally it will decrease the dollar amount of
monthly mortgage payments, while also decreasing
the overall amount you will pay out during the
life of the loan.
11- Veterans who are eligible for a VA Loan may enjoy
some extra perks during refinance.
12- Closing costs such as a down payment, or fees
associated with your refinance, may be lower than
those paid on traditional loans.
13- Your VA specialist will calculate these types of
potential costs for you.
14FRINGE BENEFITS OF LOW INTEREST RATE REFINANCING
15- One of the often overlooked benefits of
refinancing during periods where fixed rate loans
are tied into low interest loans is the ability
to reduce the term of the mortgage.
16- A mortgage loan term is simply the number of
years a loan is financed for. A fixed rate loan
is a loan whose interest rate is locked in and
will never be subject to increase.
17- It is common to finance a home for periods up to
30 years. Many home owners choose the longest
term possible in order to decrease the amount of
the monthly payment.
18- While this is a good option, it is also an option
that causes the amount of money paid back
throughout the years to be considerably higher
than what would be repaid on a shorter term loan.
19- With interest rates at rock bottom, there may
never be a better opportunity to refinance for a
shorter term loan.
20- Because rates are so low, you might be pleasantly
surprised at how reasonable monthly payments are
on a shorter term mortgage.
21- The amount of savings on short-term financing can
be substantial. Shift those savings over to your
retirement fund and create a win-win for the
familys future.
22Fixed Vs. Variable
23- In the past it was fairly common to get creative
with mortgage financing by tying loans into a
variable rate.
24- Variable rate loan payments fluctuate over time,
often increase in a dramatic fashion, and can
increase when the Federal funds prime rate rises.
25- For those with a variable or adjustable rate
mortgage, there is no better time than the
present to refinance and get locked into a low
interest fixed rate mortgage.
26- Savings on a fixed rate mortgage, particularly at
the current low rate, will add up nicely over
time.
27If you are uncertain about whether or not
refinancing is the best option for you, take time
to sit down with your VA specialist and discuss
your unique situation.
28In just a matter of a few minutes you can
determine if refinancing is the best financial
move for your familys fiscal health.
29Mortgage Originator Jimmy Vercellino,
specializing in VA loans, helps veterans use
their VA loan benefit to their greatest advantage.
30Be a proud homeowner today. For more details
call 480-351-5904 or visit the site
www.valoansforvets.com
31- Jimmy Vercellino, NMLS 184169
- Mortgage Originator Specializing in VA Loans
The views expressed here are those of the
individual author and do not necessarily
represent those of First Choice Bank (NMLS
177877) and First Choice Loan Services Inc. (NMLS
210764). Equal Housing Lender. 7702 E.
Doubletree Ranch Road, Scottsdale AZ 85258 The
views expressed on this site are those of the
individual author and do not necessarily
represent those of First Choice Bank (NMLS
177877) and First Choice Loan Services Inc. (NMLS
210764). Equal Housing Lender.