Mortgage Rates are Currently "Prime Day", 

"Cyber Monday", and "Black Friday" Rolled Together

Serious shoppers make plans when looking for hot deals, especially around the holidays ... 

Consider all that is done in their pursuit of the perfect gift and monetary savings:

• Conduct and save searches
• Earmark pages
• Cut-out ads
• Compare pricing
• Make bids
• Save rewards
• Utilize money-saving reward sites
• Use every coupon (online and paper ad) available

Some shoppers love the thrill of the hunt so much that they choose to physically stand in line at stores at the break of dawn or midnight.  They make holiday shopping an occasion and event to celebrate with family and friends.

Right now, a similar scenario is playing out daily in the lending and real estate industries ... 

Current low interest rates have new home and refinancing prospects extremely excited.  They're out shopping for homes.  Or they're sprucing-up their credit and examining their finances.  They're making plans and preparations ... to SAVE, to shorten mortgage terms, to utilize equity, and much much more.  

We're, in essence, experiencing what is interest rate "Prime Day", "Cyber Monday", and "Black Friday" rolled together into one.  Consumers in large numbers are "getting in line" to take advantage of it. 

Unsure about what benefits you could find if you refinanced? 

Then the best action to take is also a simple one.  Talk to a lender.  It's the only way to get sound reliable information and the facts you need to make a decision.

In the meantime though, consider the following questions if you're a mortgage-holder still on the fence regarding refinancing.  These and other questions will provide a more defined and clear path of action for you.    

Do you ...

• Want to save money?
• Would you like to lower your interest rate?
• Would you like to lower your monthly payment?
• Shorten your mortgage term?
• Pay off your mortgage note in a shorter time-frame?
• Are you hoping for "cash out" for ????
• Do you hope to eliminate PMI (Private Mortgage Insurance)?
• Do you want to consolidate or pay off credit cards, second mortgages/HELOCs, etc?
• Do you want to convert to/from an ARM?
• Take a Co-Borrower off the prior Loan?
• More ...

Again, the facts and information you need to make a final decision are available only through a mortgage lender, but the questions above are definitely a great place to start.   

Now, consider these statistics ...  

Did you know that according to a 2019 survey done by Zolo, North American homebuyers spent an average of 124 hours when looking for their home?  But another survey revealed that the average consumer spends only 5 hours shopping for a mortgage?  

Given the direct influence a mortgage decision bears on monthly finances and overall financial health, 5 hours is staggeringly low.  That is a truth when initially buying, and remains a truth when pursuing a refinance as well.

Still not convinced it's time to contact a loan officer?

Below are two examples that I think clearly prove how very important it can be to:

• Take the time to contact a lender
• Ask questions
• Weigh mortgage options 
• Consider opportunities available via current interest rates 
• Take action 

Just this last week I refinanced a young couple.  The savings found via their refinance are going to be sizeable and immensely beneficial to their monthly finances and future.  By refinancing now they're going to save over $600 per month.  That's huge.

Another older couple I closed will not see quite the same drastic monthly monetary savings as the other couple.  Still, the savings will prove extremely beneficial for them.   

The monthly savings reaped via their refi will help pay for an expensive medicine prescribed by their physician.  Payment for that medicine would have not been possible or easily made prior to their refinance taking place.  

It's been said that "actions have consequences".  Many times, these words are used as a warning.  

But the two examples shared above prove that consequences can be very positive too ... and even life-changing.  These two clients vastly improved their lives last week.  I can't tell you how gratifying it was for me as their loan officer to assist them in doing that.

If you haven't considered or taken steps to discover whether a refinance is possible for yourself, now may be the time to do so.  Now may be the time to speak with a lender.

Why? 

Just as with the special shopping days mentioned above, the opportunity to save money via current low interest rates and a refinance will eventually disappear.  While no one can make that prediction as to when that will occur, history teaches us that the window of opportunity does not remain open forever.  And when it closes, so goes great opportunity.

There is NO monetary cost typically associated with asking a lender questions.  There is certainly no risk in holding a conversation.  There is no reason to hesitate to reach out.  

You just might find your own personal "Prime Day", "Cyber Monday", and Black Friday" when you do ... 

* Are you dreaming of buying or refinancing a home or Investment Property in New Lenox - Will County - Chicagoland ... IL or WI?