With mortgage rates as low as they are, it comes as no surprise that 2020 is experiencing a refinance boom.
It's an excellent time to refinance to a lower interest rate, lower your monthly payments, or shorten the term of your loan
Good morning, i?m jeff farnham.
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With lower mortgage rates, it should come as no surprise that 2020 is experiencing a refinance boom.
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It's an excellent time to refinance to a lower interest rate, lower your monthly?payments, or shorten the term of your loan.
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In fact, according to a recent forbes advisor study, 43% of 30-year mortgage holders are eligible for a refinance that would lower their mortgage rates.
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Refinancing to another 30-year fixed-rate mortgage might be an automatic first choice for many homeowners.
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But if you've been in your house a few years, refinancing to a 15- , 20-, or 25-year mortgage can keep you from prolonging the debt and piling up interest costs.
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The monthly payments on a 15- year loan can be higher, but the interest rates are lower, which means you can save money in the long-run.
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Speak to one of our loan advisors to run the numbers for you and see if a shorter-term refinance is the right choice for you.
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If you?d like to refinance your mortgage, but you?re worried about the upfront costs involved, there is a solution that might work for you.
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For some loans, closing fees and other charges can be rolled into the mortgage itself.
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This would allow you to pay off those fees over time.
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Contact us today to learn more about rolling costs into the loan.
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According to a recent fannie mae survey, more people think now is a good time to sell a home.
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This is an improvement from the first months of the pandemic, when potential sellers didn?t want shoppers in their homes, and they were worried about the state of the economy.
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If seller sentiment continues to improve, that could help bolster supply and take away some of the pressure on home prices.??
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With the current pandemic, upcoming election, and everything else going on in the world right now, we can all use some positive news these days.
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Luckily, interest rates remain low, which is certainly good news for homebuyers and homeowners who would like to refinance.
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At jts & co.
We keep your long- term goals in mind when structuring your loan.
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While low interest rates certainly make financing a home more affordable, we understand there are other important items to keep in mind.
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Is it best to put 20% down on a home loan, or is the 3.5 to 5% down payment a better option?
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The answer to this question depends on what your short and long-term goals are.
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That?s why it?s best to work with a local loan advisor that you trust has your best interest at heart when helping you make these decisions.
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At jts & co.
We are your local mortgage advisors.
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We live and work in the same community as you.
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You can trust us to handle your home financing needs.
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Whether you are purchasing a home or refinancing your current mortgage, we want to become your lifetime mortgage advisor.
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Visit our website or text jts at 33655 to get pre- qualified today.
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We are local, trusted, and experienced and we want to make homeownership easy for you.
Thanks for joining me today and be sure to tune in next week!
