It is probably time to Refinance

by equity design

We would love to get all philosophical with you about financial health and planning.  And it is true that we want every friend and client to be in a secure and wise loan.  But the reality is RATES ARE GREAT.  We are looking at rates that are at some all time lows.  Right now we are refinancing people into 30 year fixed loans with rates lower than we’ve ever seen in our 5 years in the industry. Yes, there are some unique challenges right now.  Appraised value on homes can be a real challenge.  You must be able to show reasonable and consistent income over the last couple of years.  AND, believe it or not, underwriters are a little skittish around bad credit (go figure). At the same time, every situation is unique and it is almost always beneficial to have a sort of “state-of-the-union” sort of conversation with someone you trust.  We are having these sorts of conversations every week right now and the results have been very encouraging. Remember, refinancing a home should take multiple factors into consideration:  terms, cash-flow, housing goals, investment, and cost. Today may be the time.   Interest rates are at historic lows.

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You’re currently reading “It is probably time to Refinance,” an entry on Equity Design.

Author:
equity design
Published:
2pm on 12/17/08
Category:
Debt, Financial Health, Mortgage, Planning

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