Seems like you can’t look, watch or listen to anything without hearing something about mortgage interest rates, the impact of Brexit an rates and even “more historic lows” and a possible refi boom. There’s a ton of articles, information, speculation and opinion about what homeowners can do and gain during times of low interest rates and a lot of it is interesting and helpful. Here are a couple highlights:
- Save thousands of dollars on the life of their loans by getting a lower rate or shorter term (15 vs. 30 year)
- Pay of a home equity line of credit
- Consolidating debt
- Get rid of mortgage insurance
These can all be great things…the problem is, you can’t know for sure if any of these things are possible and if they make sense for you personally when it comes to costs/fees/savings without getting specific, professional advice. While it looks so available online, it’s not necessarily personalized…a mortgage calculator just doesn’t tell the whole story. At GCS Title, we work with many, many incredible mortgage loan officers. These people are licensed, experienced – and they’re actual, local people who you can reach without going through an automated system – which is a big deal when you’re making choices and decisions that affect such a big part of your finances. Loan officers are happy to discuss your situation and let you know if you have options you didn’t know you had and their findings will be geared to what’s right for you – no obligation. Let us know if we can introduce you to a loan officer who can answer your questions…a refi boom could be a great thing – as long as it doesn’t blow up in your face. ~Charlie