We keep telling you that now is the time to refinance. We’re not kidding. Rates right now are a full percentage point below what they were last year. Housing prices have risen dramatically according to MSNBC. FHA has reduced their PMI (Private Mortgage Insurance) by half a point. If you currently have a mortgage that you’re unhappy with or even one that you are happy with, you owe it to yourself to refinance it to the lowest rate possible.
FHA lowering the PMI rate alone is a reason enough to refinance. This drop in the PMI rate means that people are saving, on average, over $700 per year. Who do you know that couldn’t use $700? Mortgages are all about capitalizing on opportunities, and you have a big one right now but only if you decided to refinance.
As home values rise, refinancing makes more sense. You are able to take the new value of your home, subtract what you still owe and a percentage of the difference you can take out and put towards other bills, or to refinance to a lower rate entirely. It’s a no-brainer if you have high interest credit card loans or other high interest rate debts. Turn all those high interest debts into one payment while value is there.
Look, low interest rates don’t last forever, no matter how much we want them to. Getting your Indy home refinanced to a lower interest rate mortgage is a matter of striking while the iron is hot, and it’s steaming right now. Call us today at(317) 550-1515 or visit www.thehomeloanexpert.com to apply online. Nobody makes it easier in Indianapolis to refinance your home.