February 15th, 2018 6:20 AM by Jackie A. Graves, President
More and more people are refinancing their homes to solve their
financial woes...but why? One reason is that refinancing saves homeowners
an average of $4,264/year.
In fact, just last year almost
2,000,000 people refinanced their homes to the tune of $749 billion. While
many have already taken advantage of historically low rates, there
are still 6.7 million homeowners that have yet to cash in on the potential
see, this opportunity was born out of the 2008 Housing Crisis. The Fed
dropped rates to historical lows to fight off the recession and opened a window
where many Americans could refinance and save. But recently the Fed has
signaled interest rates are about to rise.
That’s why it’s important to see
if you could benefit from refinancing, before it’s
So, what should you do if you
still haven’t refinanced?
You can start by checking out LendingTree a free
calculator that lets you see how much money you can save every
LendingTree has already helped fund over $60 billion in mortgage loans in
just the last five years...it’s no wonder that they are one of the largest
and most trusted players in the space.
Need more convincing on why refinancing is right for you?
Well just keep reading for the top five reasons, and you'll quickly
discover that refinancing is the biggest financial “no-brainer” of 2017!
Reason #1 - Take Advantage Of Historically
Low Rates Before They Go Back Up
As we mentioned above, borrowing rates have dropped to
historical lows and they can’t stay this low for much longer. In fact, the Fed
has already taken steps towards the next rate hike. That’s why it’s so
important you take advantage of this opportunity now.
And we’ll make it easy for you…
Use the calculator below to estimate your new payment and
potential savings - chances are, you'll like what you see.
Not bad! You could save a total of $57,618 off your entire
mortgage or $160 per month!
this estimate is pretty accurate and based on average rates, it only takes a
few moments to find your exact savings. Just hit the orange "calculate
your payment" button
above to lock-in your rate today.
Reason #2 - Your Financial Situation Has Changed
Life is always changing, we
know that. You might have taken a new job that pays more… or you might have
new expenses that stretch your money further and further every month.
So another loan type might
make more sense for you today.
You might be able to cut your
30-year mortgage down by years and still repay the same amount of money.
For example, say you took out a 30-year loan at 6% in 2007.
refinanced that in 2014 at 3.55% and paid off your house 9 years earlier
Or if you’re looking for an
extra $250 per month, you might be able to refinance your 30-year mortgage at a
lower rate and make smaller monthly payments.
Another option is if you have
an adjustable rate mortgage, you could refinance to a fixed-rate
mortgage. You'll lock-in one of the lowest rates ever to protect yourself
against the likelihood of rates rising in the future. And it'll be much
easier to plan and budget for the long term.
Of course, you could do a lot
of things… but to find out what’s best for you, answer a few questions about
your unique situation to find out how much you can save, and then speak to an
expert for free if you like what you see:
You might have other debt…
credit cards, auto-loans, personal loans.
And with average rates for
these sitting at 4.77% to anywhere north of 15.96%, it makes sense to
consolidate your debt through the lower rates of
your mortgage loan.
All you need to do is refinance
with a cash-out option or pick up a home equity loan. You’ll be getting a
much better rate - and cutting your monthly payments down.
Another lesser-known bonus that
most people don’t think about, is that mortgage interest is
tax-deductible. So you can cut down on your tax bill too (if this seems
like a good fix, make sure to consult with a tax advisor too). Even
But should you refinance or
take out a home equity loan? The best way to find out is to enter your
home info into the free LendingTree
calculator You’ll discover which is best for you and can
set up a free consultation for answers to any other questions you might have.
Reason #4 - You Were Hit Hard By The Housing Crash
In the aftermath of the Housing
Crisis, the Government created the Home Affordable Refinance Program (or HARP).
It helps help people with little or no equity refinance their homes at a much
better rate. And they’ve already helped 3.3 million people save
in helping people like you do the same. And they’ve put together a free
questionnaire here so
you can quickly discover if you qualify.
Reason #5 - You Want To Make a Big Purchase or Go Back to
We all get squeezed
So when it comes to big money
expenses like a new car or wedding, refinancing is better than taking out
another loan at a much higher rate.
The same goes for going back
into education to boost your long-term income...And for any investments in your
own home (like a renovation that increases the property value, but you can also
enjoy), a business, or a rental property!
Whether your financial
situation has changed, you need to consolidate other types of debt, or you need
to make a purchase you’ve been thinking about for a while.
You should refinance your home
to take advantage of historically low interest rates. You could go to the
bank and be given their so-called ‘best-rate’... Of course, they won’t tell you
about the better deals on the market. Or you could use LendingTree's
free online calculator to find out right now!
Remember, this a free service.
No-strings-attached. But you need to act now - rates won’t stay this low for
Click on your state below to
get started now and let us know what you think...good luck!
To view the original
article click here