By Living Room Realty, March 9, 2020
Interest rates are at an all time low right now! If you own your home and have an interest rate higher than 4% it may be worth your time and effort to look into refinancing your current mortgage. I am currently in the process of refinancing my home from a 30yr loan to a 15yr loan.. I was able to secure a 15 year fixed rate loan BELOW 3% and will only be paying $200 more per month than I was on my current 30yr loan. This will save me over 100k in interest payments over the life of my loan.
If you do not own a home and have been thinking about it, now be the your best chance to afford that house you’ve been eyeing. When you compare mortgage rates from a year ago to now it essentially means you can afford 10% more of a home for the same payment if you bought last year…
I am happy to chat with you further in person or put you in touch with a mortgage broker to see if now is the best time to make a move or refinance your current home….
