Mortgage rates are hot, hot hot! But, they’ve been great for years now. Does a two to three year span of low mortgage rates “lock out” homeowners who bought or refinanced in last thirty six months? In today’s installment Milly lets homeowners of America know that there is another way “to kill the cat in the alley” so they can still take advantage of these rock bottom rates and save themselves a “ton of jack on their shack”.
A concept that seems to only be in the mind’s of about 1/3 of homeowners today is torefinance to shorten their amortization versus the sole reason of simply lowering interest rate. The mortgage market were in now offers homeowners not only the angle of dropping their interest rate, but also to cut years off of their current note with little or no change to their monthly budget.
We hope you enjoy today’s installment!
If you or any of your loved one have any questions regarding mortgage financing, home ownership or banking in general, please don’t hesitate to hit that MILLY button!!
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Jamey "Milly" Milheiser
Your Mortgage Guy