In a time when saving money is on everyoneâ€™s mind, unfortunately some methods of saving money can be easily overlooked. Take a look at the below article by Stephanie Armour. Those that can take advantage of the extremely low mortgage rates now will be in an amazingly rare position that will probably never happen again in our lifetime.
Shorter-Term Refis Can Save Big Money
Shorter-term loans are gaining favor as rates continue to fall.
On average at todayâ€™s rates, a borrower refinancing their 6.5 percent loan would save $70,000 over the life of a $200,000 20-year loan vs. a 30-year loan.
These kinds of refinances are particularly popular among people who are approaching retirement, said Peter Iche, president of Carthage Federal Savings and Loan Association in Carthage, N.Y.
Source: USA Today, Stephanie Armour (08/16/2010)
For anyone who would like more information, I would be happy to refer honest lenders that will give you an sincere and detailed analysis of your current position without any commitment on your part. They can also help explain how a current refinance may be able to help give you the financial stability that you are seeking.
Please donâ€™t forget that our team can assist you with a multitude of services:
Â· Corporate relocation
Â· New construction consultation
Â· Resale buyer and sellers
Â· First-time home buyers
Rememberâ€¦WE LOVE REFERRALS!!!
Bob Christian, e-Pro REALTORÂ® Consultant
Better Homes & Gardens Real Estate - Anderson Properties
â€śThe Bob Christian Teamâ€ť
23501 Cinco Ranch Blvd., Suite c-140,
Katy, TX 77494
(281) 392-0200 Main
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