Wendi-Mae Davis, CRS, GRI, SRES

Has been serving her local Communities since 1989!

BRE Lic. # 1061646


Well…Is a mortgage refinance right for you?

With rates for 30-year mortgages hovering below 4 percent since last October, all kinds of homeowners are trying to get their monthly mortgages reduced, say lenders and mortgage experts.

Along with months of record-breaking low interest rates, other factors are driving the refinancing boom: a competitive lending market and changes in some federal refinancing programs for struggling homeowners. It’s prompted many established homeowners with old-school, high interest mortgages to decide it’s time to refi.


To determine whether you should refinance, look at how long you plan to be in your

current home and whether the upfront costs outweigh the monthly savings. Generally


the primary reasons for refinancing a mortgage are to:


• Lower monthly mortgage payments.


• Eliminate the unpredictability of an adjustable-rate mortgage by switching to a


fixed rate.


• Free up home equity cash for home improvements, college costs or other




• Shorten the loan term, say from a 30- to a 15-year mortgage, which can save


thousands in interest payments.


Money you will save if you refinance


and fees. Start with your current lender or sit down with a local loan originator. You can also


do refinance comparisons online, using mortgage calculators at sites like HTTP://www.Bankrate.com 


or those of individual banks and lenders.


If you’re a struggling homeowner, ask your lender about changes in the federal Home


Affordable Refinance Program and FHA refinance programs that have made refinancing


options more plentiful.


So…Is a Mortgage Refinance right for you?  Call me today, to refer you to a Top Professional in Mortgage Lending, or if you are interested in knowing the value of your home-Call me for A No Obligation Pricing Analysis today!