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.
1.
With lower mortgage rates, it should come as no surprise that 2020 is experiencing a refinance boom.
2.
It's an excellent time to refinance to a lower interest rate, lower your monthly?payments, or shorten the term of your loan.
3.
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.
4.
Refinancing to another 30-year fixed-rate mortgage might be an automatic first choice for many homeowners.
5.
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.
6.
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.
7.
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.
8.
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.
9.
For some loans, closing fees and other charges can be rolled into the mortgage itself.
10.
This would allow you to pay off those fees over time.
11.
Contact us today to learn more about rolling costs into the loan.
12.
According to a recent fannie mae survey, more people think now is a good time to sell a home.
13.
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.
14.
If seller sentiment continues to improve, that could help bolster supply and take away some of the pressure on home prices.??
15.
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.
16.
Luckily, interest rates remain low, which is certainly good news for homebuyers and homeowners who would like to refinance.
17.
At jts & co.
We keep your long- term goals in mind when structuring your loan.
18.
While low interest rates certainly make financing a home more affordable, we understand there are other important items to keep in mind.
19.
Is it best to put 20% down on a home loan, or is the 3.5 to 5% down payment a better option?
20.
The answer to this question depends on what your short and long-term goals are.
21.
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.
22.
At jts & co.
We are your local mortgage advisors.
23.
We live and work in the same community as you.
24.
You can trust us to handle your home financing needs.
25.
Whether you are purchasing a home or refinancing your current mortgage, we want to become your lifetime mortgage advisor.
26.
Visit our website or text jts at 33655 to get pre- qualified today.
27.
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!
2shot desk
According to the Mortgage Bankers Association, new mortgage applications increased 6.8% last week from one week prior. If you're..
