It's generally a good time to refinance when mortgage rates are 2% lower than the current rate on your loan. It may be a viable option even if the interest rate difference is only 1% or less. Any reduction can trim your monthly mortgage payments. Example: Your payment, excluding taxes and insurance, would be about $770 on a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment would then be $700, now you're saving $70 per month. Your savings depends on your income, budget, loan amount, and interest rate changes. Your trusted lender can help you calculate your options.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 227262
1 Vantage Way Ste E240
Nashville, TN 37228
Phone: (615) 915-1347
Not a commitment to lend. Additional terms and conditions may apply. USA Lending dba DAS Acquisition Company, LLC is not affiliated with or endorsed by the HUD, FHA, VA, the government of the United States, or any federal, state or local government agency. Corporate address: 12140 Woodcrest Executive Drive, Suite 150, St. Louis, Missouri 63141. Telephone: (314) 628-2000, Toll Free: (888) 250-6522. For complete license information: http://www.nmlsconsumeraccess.org