It's funny I get asked this question almost every day!
There are many stories and articles out there posted by bloggers, news media, analysts, agents etc that try to give a 10 page essay on the market and if its time to buy a house or refinance. I don't know about everyone else but I like to keep things super simple (K.I.S.S - Keep It Super Simple) We have so many different generation gaps now a days and everyone being the expert we miss the bottom line here.
Can you use a lower payment?
Do you have equity in your house?
Do you want to pay off bills or get cash out?
Want to lower your rate by 2%?
Need to convert to a FIX RATE MORTGAGE?
Bottom line is this, everyday is a good day to refinance if you NEED IT. Yes there are people out there who don't need to refinance or use their equity but no the market has not STOOD STILL just because the news media is griping about something ....EVERY DAY people still NEED to BUY and SELL houses and EVERYDAY people need to pay off their bills and convert to a fix loan.
To answer the QUESTION is to ask yourself can I use this? Don't wait for rates to rise or sink...Don't wait till the housing market rise or sink...Nothing is going to change about your situation unless you change it yourself.
I had a customer worried about his bad credit and didn't know if he could qualify for a loan even. I just financed him a loan with score's in the 500's and imperfect credit for a 6.25% rate with no points...WOW o WOW, when I was in the Sub-Prime days he would of got at least 9% rate with 4 discount points!!
Heres the Beautiful thing about FHA loans with my company..NO MINIMUM CREDIT SCORE REQUIREMENT!
Yes thats right! So Bottom line if you need it go for it and call me today your Direct Lender and One Stop Shop for your refinancing needs in Virginia Beach
Comments(5)