Refinance
The interest rate today may be at the best in sevearl months, if you have multiple debts you can consolidate
them with a home equity loan, which could be helpful in your tax depositions, please check with your tax professional.
At Washington Financial, we listen to our clients, and provide them with solutions that address their specific financial needs.
By refinancing your mortgage when interest rates are lower, you trade a higher interest rate for a lower one,
which, in turn, lowers your monthly payment.
Benefits of refinancing
A sound advantage of home refinancing is that you can shorten the term of your mortgage. For instance, your original
30-year mortgage which you have been paying for ten years, can be switched to a shorter term of either 10 or 15 years.
This can save you thousands of dollars of interest. If the refinance rate is lower, but you maintain the same monthly
payment, you will build up equity in your home more quickly, because more of your payment will be going towards principal.
Current Rates
You can refinance your home at very favorable rates to as
low as 5.75%
for a 30 year fixed loan to as low as
5.5% for a 15 year fixed loan. Please understand
that your credit score (commonly referred to as your FICO score) plays a considerably
role in what rate you eventually pay. Other important factors include the
amount of equity you have in your property and your current debt. Please give
us a call at 916.675.1177 or leave us and e-mail at info@washingtonreal.com
and one of our loan professionals will contact you within 24 hours.
