As home values skyrocketed last year (and the trend continues in 2018) home owners saw an unprecedented rise in equity. The home market is as robust as it has been in years and home owners may not know just how much tappable equity that they actually have. Average homeowners gained $15K in equity last year and are now sitting on $5.4 Trillion dollars in total table equity. As home values soared, homeowners’ ability to cash in and save money has too, but only if they know about it.
With the additional news that home values increased in February by 8.8%, which is the largest such growth in a month since March of 2014, home values and equity are at all time highs.
When you consider that interest rates are still near all-time lows, but have started to creep up slightly, it makes it the perfect time to get your Cash Out Refinance and save hundreds a month and thousands over the course of your mortgage.
Refinancing your mortgage can have more benefits that just putting money in your pocket or paying off Credit Cards or other outstanding debts. You can also refinance to lower your monthly payment. Another option is shortening the term of the mortgage, which combined with the lower rates, could be done without increasing your monthly payment. There are many ways to save money with a refinance and we can help you figure out the best option for you and how to save you the most money.
For those of you who haven’t been able to refinance your mortgage since the 2008 crash because you are self-employed or a business owner and write off too much of your income, our new Bank Statement Mortgage can help you get your home refinanced or buy the new home of your dreams.
Call The Home Loan Expert Team in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515, Nashville at (615) 810-8555 or Birmingham, AL at (205)721-7656. You can always apply online at hero.loan for your VA Loan, and www.thehomeloanexpert.com for your other mortgage needs, and we’re also open on Saturdays and will come to you to help close your loan. We work hard to make it easy on you. Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?