5 Ways You Could Save Money by Refinancing Right Now
Homespire Mortgage » Refinance
by Autumn Seavey Hicks
1y ago
A common rule of thumb is if today’s mortgage rates are lower than your original rate by 1% or more, it might be a good idea to explore refinancing. So, let’s talk about the 5 ways you may be able to save some serious cash with a refi. #1 – LOWER YOUR RATE. When people think about refinancing, it’s usually to cash in on a lower interest rate, which can save you thousands in interest over the life of your loan. Rates are still low, so if you’ve been on the fence about a refi, now would be a really good time to explore that opportunity. #2 – LOWER YOUR TERM. If you have a 30-year mortgage and ..read more
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Benefits of Refinancing
Homespire Mortgage » Refinance
by connectionincorporated
1y ago
Our Maryland mortgage lender team are often asked what the benefits are of refinancing your mortgage. While the benefits vary from one borrower to the next, there are key things that everyone can benefit from. Mortgage Rates A lot of borrowers refinance their mortgage loans in order to get a better, lower interest rate. Whether you have a fixed-rate or adjustable-rate mortgage, you can lock in a new lower rate should the market rates drop below what you are currently paying. There are also instances where a borrower’s credit rating has improved enough for them to get a lower rate. As a Marylan ..read more
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How Much Could You Save by Refinancing Right Now?
Homespire Mortgage » Refinance
by Autumn Seavey Hicks
1y ago
Rates are still at ALL TIME LOWS! Let’s say you bought your home back in the olden days — like, 2010 — and locked in the average interest rate at the time of 5% – how much could you save on a monthly basis now, by refinancing and taking advantage of today’s epically low rates? Let’s have a look. Hypothetically speaking, let’s say you bought a $300,000 home back in 2010. You put down 20% — so you borrowed a total of $240,000 — and you got a just-fine interest rate at the time of 5%. Your monthly principal and interest payment would be about $1,288/month. Okay, not terrible. But what if ..read more
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Historically Low Rates Mean Huge Savings for Home Owners & Home Buyers
Homespire Mortgage » Refinance
by nafc
1y ago
In Episode 4 of #ToddTalks, Todd Sheinin shares his expert advice on the money saving opportunities with today’s historic low rates. ? Rates were substantially higher this time last year. And at the time, the forecast was that rates were going to continue creeping up. We’ve obviously seen things kind of get flipped upside down a little bit, all over – in the housing industry but throughout the world right now, and it’s had a positive impact on mortgage rates. Mortgage rates are at historic levels right now, which sounds funny because we’ve been saying that for many years now, that rates are ..read more
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Home Buying & Historic Low Rates
Homespire Mortgage » Refinance
by nafc
1y ago
In Episode 2 of #ToddTalks, Todd shares his expert advice on what today’s all-time low rates mean if you’re in the market to buy a home. ? Don’t forget to subscribe to our channel so you don’t miss out on future mortgage wisdom! ?? The post Home Buying & Historic Low Rates appeared first on Homespire Mortgage ..read more
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Historic Low Rates & Refinancing During Coronavirus
Homespire Mortgage » Refinance
by nafc
1y ago
In Episode 1 of #ToddTalks, COO Todd Sheinin shares his expert advice about how current homeowners can take advantage of today’s historically low rates. ? If you have questions about your mortgage, or if you’re looking to buy and wondering what you’d qualify for, give a Homespire Loan Officer a call.  It doesn’t cost anything to crunch the numbers, and it could save you thousands.   The post Historic Low Rates & Refinancing During Coronavirus appeared first on Homespire Mortgage ..read more
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Give Your Mortgage a Trim
Homespire Mortgage » Refinance
by nafc
1y ago
The stress of a global pandemic can cause you to make some pretty rash decisions. ?‍? Before you go and do something crazy like skip a mortgage payment, let’s talk about why you should consider trimming your monthly payment to allow you to stay on track and remain financially sound. This is a hard time financially for a lot of people, but skipping monthly payments is never a good idea. Instead, you may qualify for a refinance.  Refinancing your mortgage is a great way to put you on better financial footing and can help you achieve long-term financial success after this is all over.&nbs ..read more
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