It’s time to refinance your home before interest rates get too high. Before interest rates rise any more, you can use the Home Affordable Refinance Plan to reduce your monthly mortgage payments by thousands of dollars with super low interest rates. So, if you are looking to lower your payments, shorten the years on your mortgage or take cash equity out, now is the time.
Unknown to many people, the Home Affordable Program is geared to the middle class. If your mortgage is less than $625,000 you could qualify for the program assistance. The banks are not happy about the government making them lower your interest rate, so the program won’t last forever. Act this year to get rates as low as 3.11%. This could save you hundreds each month and thousands each year.
You can also benefit from shortening your mortgage life and save several hundred thousand, or you can take cash equity out for home improvements or a much needed vacation.
Keep-in-mind that you will still have to pay closing costs in most cases and each bank or mortgage company will have different closing costs.
If you are in the market to relocate, check out these Oklahoma communities:
Tulsa OK - located in the County of Tulsa in thenortheastern section of Oklahoma. Because of the rolling green hills and wooded terrain of the Ozark foothills, it is one of the most beautiful places to live. Tulsa real estate has a pleasant climate. Residents enjoy 230 days of sunshine each year. Tulsa is proud of its low unemployment rate. Its economy is based on manufacturing, telecommunications, transportation, energy and aerospace.
Broken Arrow OK - once a rural community of ranches and farms, Broken Arrow is now a thriving city and one of Oklahoma’s fastest growing cities; a distinction it has held for over four decades. Money Magazine (2006) has named Broken Arrow real estate as one of the “Best Places To Live in America”.
Jenks OK - located in Tulsa County in the northeastern part of Oklahoma. It is a suburb of Tulsa and is situated between the Arkansas River and US Highway 75. The city has an outstanding school district, quality housing and is in close proximity to the Tulsa Metropolitan Area. The citizens maintain a small town value as Jenks real estate continues to grow and Jenks offers just plain “down home” living.
Bixby OK - located in Tulsa County, Oklahoma, just south of Tulsa. Bixby real estate offers the charm and lifestyle of a small community along with the cultural and recreational benefits of being next door to a major metropolitan area. Its nickname is “The Garden Spot of Oklahoma” because of a rich heritage.
Owasso OK - situated in Rogers and Tulsa Counties, in the northeast portion of Oklahoma, just ten minutes north of Tulsa. The City of Owasso offers a beautiful rural setting, with woodsy areas that offset business and residential zones. You can put in an eight-hour day at the office and be either out fishing on the lake or dining in the finest of restaurants within minutes. The options are plentiful for those looking for the laid back lifestyle America’s western frontier has to offer.
This information is brought to you by: Tom and Bev Herring, your real estate resource for Tulsa OK and surrounding communities.
Originally posted at: http://tomandbev.info/2014/01/15/refinance-your-home-before-interest-rates-get-too-high/
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