Ready to purchase your first or next home? There are many compelling reasons to take advantage of the current low interest rate environment. At one point interest rates will be going up, and when they do everything from home repairs to monthly mortgage payments could be costing you more. At the moment, interest rates are still at historic lows, and now is the time to get into the real estate market!
Every dollar you save now is one less dollar you have to pay the bank - and one more dollar you have to invest. Over the life of the mortgage loan, the combined interest savings and extra investment income could mean tens of thousands of dollars in your portfolio. These low interest rates have already lasted longer than usual, and they will not last forever.
Already Own Your Home?
If you bought your home more than a few years ago, you could probably benefit from a refinance at today's low interest rates. With interest rates this low, you owe it to yourself to at least give refinancing a look. If you can refinance your mortgage and get a rate at least half a percent lower than what you are paying, chances are refinancing makes sense.
Refinancing your mortgage at the current low interest rates is also a great way to pay for needed home repairs. If your home needs work but you lack the funds to pay for it, refinancing your mortgage could allow you to take money out and tap the equity you have built up through the years. And since interest rates on home equity loans are generally lower than other types of loans, you will pay less interest as you get your home back in shape.
For all of your Real Estate buying and selling needs, contact us today!