Unlock the Savings Trapped in Your Current Mortgage Loan
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“A penny saved is a penny earned”… or so the old proverb goes. Of course, the value of a penny has changed somewhat from the time when your grandfather offered his wisdom on the value of keeping what you earn. Today, you could save thousands of dollars by simply making the right mortgage decision. If you haven’t taken advantage of the historically low interest rates you are leaving huge savings in the pockets of a banker.
Your mortgage is one of your most significant financial decisions. Making the right decision regarding your mortgage can have a huge impact!
It is my primary role as a mortgage broker to find you the right product for your personal situation. A mortgage broker is a financial professional and – like your investment advisor – I want to understand your personal situation and payment preferences. I have access to many lending institutions, so you can do some valuable comparison shopping for the right combination of features, rates and mortgage options.
All these choices offer you substantial opportunities to save money over the life of your mortgage.
If you are like most homeowners, you are focused -for good reason – on finding the best possible rate for your mortgage. A mortgage broker can offer you the best range of rate options and terms. If a mortgage broker can get you a half per-cent (1/2%) off the posted rate, that could mean a savings of more than $17,000 in interest per $150,000 borrowed over a 30 year term. If, however, you believe that most mortgage rates are basically the same from one institution to the next, then consider the fact that even an eighth of a point difference in the rate can offer significant savings over the duration of your mortgage.
But it’s also important to look beyond the rate. There are other ways to find savings in your mortgage. I am up-to-date on market trends and new opportunities… as well as some of the tried-and-true ways to save money in a mortgage.
Do you get an annual bonus in your job? You may want to use that bonus to pay down the principal of your mortgage. If you pursue this strategy consistently over the life of your mortgage, you could save thousands of dollars in interest by paying your mortgage off sooner. However, sometimes, it makes more sense to save this money is a safe side account, that you could utilize to pay down your mortgage, or as an emergency cushion.
Are you paid bi-weekly or bi-monthly? Consider a change from the usual monthly mortgage payment. Set up your mortgage payment schedule to coincide with your pay period. Again, you can shave years off your mortgage, and enjoy thousands of dollars in savings. You can accomplish the same thing through just making one extra payment per year as well.
Consider the old penny proverb again. How much is your time worth? Time savings is one of the key, unexpected benefits that clients say they have enjoyed when they choose to work with a me. Above all, I’m an expert in customer service, and that means that I look after every detail of your mortgage research and negotiations on your behalf.
You can take advantage of these historically low rates even if you presently have a USDA loan. You can refinance a present USDA Guaranteed Loan and even a USDA direct loan. Call Jeremiah to find out how.
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