Rates are at historically low levels and many people overlook the savings.
It costs you NOTHING to find out if you could save money!
Here are some great ways to get started!
It only takes 15 minutes to get pre-qualified and
find out how much you can save!
And, we make the process as easy as 1-2-3!
September 16th @ 8:30 am
During this webinar, you'll learn:
In the last ten years, we have seen historically low rates. Many people think that they probably have a good rate, especially if they have purchased a home, or refinanced in the last 3 years. But, nothing could be further from the truth!
Should you refinance?
Generally speaking, you should have your mortgage loan re-evaluated if you haven't obtained it in the last year. Rates change daily. We have seen some clients take advantage of 1, 2 or even 3% rate reductions and this can mean a LOT more money in your pocket every month!
What are the costs?
The cost to refinance is often outweighed by the long term benefit. Our experienced loan officers will provide you a cost-benefit analysis so that you fully understand the up-front and long-term costs. In the large majority of cases, clients can see a drop in their monthly payment, and often even reduce the length of their mortgage, which can save literally hundreds of thousands of dollars in interests. This is a great wealth builder! Can you imagine paying off your home in half the time?
Is paying mortgage points worth it?
Before your loan closes, you’ll have the option to pay points on your mortgage, which is paying money upfront, to permanently lower your interest rate. This can provide big benefits for some, while not as advantageous for others. "It all depends on how long you plan to stay in your home or how much money you would like to save each month. Depending on your goals, it can make sense to buy down the rate," says David Ratti of Envoy Mortgage. The amount of money you have to pay to buy down your rate depends on the interest rate market.
Getting cash-out for renovations
One of the reasons many homeowners are refinancing is to take advantage of great renovation loan programs to make their homes more usable, practical, and potentially increase the value. These loans allow you to base the loan amount on the 'After Renovations Value' of your home, so you don't need equity in your home to take advantage of these programs. However, you do need a lender experienced in renovation financing and, as always, a reputable, licensed contractor.
The experts at The Ratti Lending Team at Envoy Mortgage can help you determine if refinancing makes sense for you. David Ratti notes, "In many cases, we are able to help clients save a lot of money which means more money in your pocket every month! In other cases, they have a decent rate and we simply help confirm that they are in a good place. It costs nothing to find out, so why wouldn't you get a rate check-up?"
For more information on refinancing, read this article:
Now is the best time to get a mortgage rate check-up! It only takes 15 minutes to determine your best options!
David Ratti, Region Manager - Ratti Lending Team @ Envoy Mortgage
Phone: 410-707-5825 | NMLS #532652
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Office: 667-223-1900 | 102 Old Solomon’s Island RD, 1st Floor, Annapolis, MD 21401