|
MORTGAGE TUNEUP QUESTIONS
 Is it time to refinance? The timing might be right to refinance your mortgage loan. New rates may help you significantly lower your monthly payment. Or you might want to “cash out” some of the built-up equity in your home, which you can use to consolidate debt, improve your home, take a vacation - whatever! Perhaps by refinancing you can even pay off your mortgage sooner!
We'll work with you to determine if the timing is right to change your loan program, considering your cash on hand, how likely you are to sell your home in the near future, and what effect refinancing might have on your future plans. We will find a program that is right for you. If this isn't the right time, we'll tell you that, too!
Give your mortgage an annual once over. If the last time you looked at your mortgage was when you closed on your loan, it’s time to take it out for an annual once over.New loan programs and opportunities to leverage your home equity can bring you lower mortgage payments and new investment opportunities.
Is a fixed rate mortgage the best choice for you? Many of us opt for the certainty of a 20 year or 30 year fixed rate mortgage when we get our first mortgage.If you anticipate selling your home within the next 3-5 years, one of our interest-only loans may be a better financial fit for you.The savings you receive can well be worth switching to another type of loan.
How’s your credit report? The information in your credit report has a huge impact on whether or not you will again qualify for a mortgage loan. That’s why it’s important to periodically check your credit report. Now it’s even easy to do so. A recent amendment to the federal Fair Credit Reporting Act (FCRA) mandates that each credit reporting company provide you with a free copy of your credit report, at your request, once a year. To request your free credit report, visit http://www.annualcreditreport.com.
Are you making the most of your home’s equity? Even with recent market changes, you may have more equity in your home than you realize. Taking out a home equity loan to payoff credit card debt, car loans and other higher interest debts makes good financial sense.
Call Jon today if you would like some help in answering these questions. He can be reached at (602) 606-6721 or (602) 399-7329.
|
