With mortgage interest rates staying near 3-year lows, there’s never been a better time to refinance your Nashville mortgage. Interest rates are an ever changing beast and everything from market forces to government regulations can have an impact at the drop of a hat. When they drop, you have to take advantage of the market. It’s a common mistake that people make. They see a trend and assume that it’s permanent. “Well, interest rates are low, they’ll stay low,” they say. Unfortunately, it’s just not true. While we would love to give everyone that walks through the door a rate in the 2’s, it’s not up to us. The market is constantly adjusting to outside forces. Banks and the government’s decisions way on the market everyday and eventually those decisions may lead to higher interest rates.
FHA has also dropped the PMI rate on their mortgages from 1.35 percent to .85% of your mortgage, a full half percent. This is saving people hundreds of dollars per year on their mortgage payments, and needs to be taken advantage of. Re-financing to this lower rate PMI rate is a no-brainer, and you should start the process today so you don’t miss out on the opportunity to save.
If you want to consolidate debts, this is a terrific opportunity. Since home values have risen, use what you’ve paid into your home to turn your high-interest debts into one low-interest payment. We even write the checks to your creditors for you! Wouldn’t it be easier to write one check every month, and pay less, than to keep struggling with those predatory credit card interest rates?
If you’re stuck in an ARM, this is the time to get out. While you’re paying this awesome low rate, it won’t last. An ARM, or Adjustable Rate Mortgage, changes according to the market. When you lock in a mortgage with The Home Loan Expert, Ryan Kelley you will know what your payment will be month-to-month and year-to-year, so that you can plan on your budget.
If any of these reason seem familiar, and you need to refinance your mortgage, call us today at (615) 810-8555 or apply online at www.thehomeloanexpert.com/nashville today. Nobody makes it easier in Nashville to refinance or purchase a new home than The Home Loan Expert, Ryan Kelley.