There are multiple reasons to refinance now – especially if you have an EQUITY LINE on your home that is not getting paid down… rates are lower than they’ve been in a couple of years and Fannie Mae and Freddie Mac are going to be ADDING FEES that amount to at LEAST an additional point next year… but these aren’t the ONLY reasons to consider a refinance NOW.
With holiday shopping days upon us, many folks are trying to figure out where that extra cash for presents will come from! Gas prices have eaten up the extra 500 to 600 dollars folks set aside for the Holidays! When you refinance, you have the ability to skip a mortgage payment. For some consumers, this is the added benefit they have been looking for!
Fixed Rate Interest rates are below 6%. If you have a 30 or 40 thousand dollar equity line at Prime Plus 1 or 2 percent – you NEED to refinance and pull both mortgages into ONE. Most consumers do NOT pay any extra on their equity lines and therefore, they are not building adequate equity in their home! Consider your options by calling us today!
Steve and Eleanor Thorne, 919-649-5058 – over 25 years of experience in the Cary, Apex, Holly Springs and Raleigh Market!
I try and answer all questions :)