Despite the recent interest rate hikes we have seen, long term mortgage rates are still at near historic lows. There are definite advantages to refinancing your home loan to a Fixed Rate Mortgage:
It’s a mortgage with a set interest rate for the entire term of the loan. Your total monthly payment of principal and interest stays the same throughout the life of the mortgage.
Fixed Rate Mortgages have terms from 10 to 30 years and are an option in Conventional, VA, and FHA loan programs.
Converting to a Fixed-Rate Mortgage can protect you from the uncertainty of increasing interest rates and fluctuating payments. It may be the right option if:
Want to learn more about your refinancing options? Talk with one of our dedicated Mortgage Consultants at 888-546-2634 to determine if a fixed rate mortgage is the right fit for your financial goals.
“I am pleased with the refi process. I’m in the web business, so I liked that I could do virtually everything required using scanned documents and email, and online document approval. It speeds up the process. Our experience was positive and I’ll be happy to refer others to your bank. ”
Mortgage bankers encounter unique complications when dealing with natural disasters.
$3 here and $10 there may not seem like much, but over time these fees will take large chunks out of your hard-earned cash.
Emergency fund or new opportunities? We’ll help you decide how much money to keep in savings.