2019 RAB Home Show February 8-10thBelieve it or not, we're just a few weeks away from the 2019 Rochester Area Builders Home Show. The 40th annual show will take place at Mayo Civic Center in
“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run.
YOU’RE NOT TOO LATE.
For years now, we’ve been hearing that interest rates will be on the rise, and although there have been some small increases, you’re still in a great position to drastically lower your interest rate. The general rule is if your mortgage interest rate is more than one percent above the current market rate, you should consider refinancing.
IT’S NOT TOO TIME CONSUMING.
Don’t brush off refinancing just because it seems like a long and daunting process. An informational call with a lender to see how rates compare will only take a few minutes. There are also some programs for streamlining the application process. And besides, isn’t the amount of money you could save worth the time and effort?
ARMS CAN BE REFINANCED, TOO.
Seeing your Adjustable Rate Mortgage (ARM) increase after the introductory period can be incredibly stressful and place a squeeze on your budget. Many people assume they’re stuck, but ARMs can be refinanced, just like fixed-rate mortgages. You can even switch to a shorter term fixed-rate mortgage, such as 15 or 23 years. The longer you’re planning to stay in the home, the more sense it makes to look into refinancing.
Kyle is a realtor and co-owner at the Realty Edge Team, brokered by eXp Realty, LLC. He founded the Realty Edge Team in 2011 along with Dan Kingsley. At age 26, he received the prestigious “30 Under....
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January 2019 Rochester MN Real Estate Market ReportFor more information about the real estate market in the Rochester area, please give me a call at 507-218-1930 or send me an email at justin