5 Reasons To Refinance Your St. Louis Mortgage

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Mortgage PaperworkYour mortgage is the most important bill you’ll pay every month. Don’t you want to make sure that the amount you pay is as low as possible? There are a lot of reasons to refinance right now, but we’ll go over 5.

These Low Interest Rates Won’t Last Forever

Everybody that’s in St. Louis has heard us tell you that interest rates are low, and they are. They’re as low as they’ve been in years, and have been for months. This isn’t going to be this way forever, though. All it takes is one federal decision or for the financial institutions to reverse course and rates will start climbing again. If you want to take advantage of the low interest rates, you need to refinance now.

FHA Has Lowered the PMI Rate

The Federal Housing Authority has lowered the requirement for their Private Mortgage Insurance by a half-point, from 1.35% to .85%. This massive reduction is saving people hundreds of dollars on their mortgages. With PMI rate dropped, it’s a great time to refinance your mortgage to the smaller rate, and save yourself money every month.

Take Cash Out For Summer Projects

A Cash-Out Refinance is a great way to use your mortgage as a way to put some money to work for you. You can take out a cash-out refinance to do projects around the house, take a trip, or do whatever you want. It’s a far better option than a home equity loan.

Cut Off Your ARM

No, not your arm, your ARM: Adjustable Rate Mortgage. Signing up for one to get a low rate may have seemed like a great idea at the time, but when rates go back up, you’re in trouble. You can refinance right now to a low fixed-rate mortgage. You can have cost-certainty every month instead of wondering what you’ll be paying month-to-month. It saves you money overall and ensures peace-of-mind.

Consolidating Your Debt

Would you rather make ten payments at varying, high-interest rates, or just one low-interest payment? Option 2, right? That’s what a Debt Consolidation Loan can do for you. It’s a new mortgage where we pay off all of your debts for you, and you turn them all into one lower payment. Instead of paying the crazy-high credit card interest rates, you can get a low mortgage rate that covers everything.

Get Started

These are all good reasons to refinance RIGHT NOW, while interest rates are low and home prices are going up. It’s a confluence of events that doesn’t happen often, and you need to take advantage. Call The Home Loan Expert, Ryan Kelley at (314) 781-9700 or apply online at www.thehomeloanexpert.com. If your interest rate is not in the 3’s, you need to call us TODAY.