The experts at Valley Mortgage know that the world of home finance can be complicated, confusing and costly. Luckily, they have been in the mortgage game for years. They can be your guide and answer all your questions…and educate you on the questions you should be asking.
ON THIS EPISODE:
Brian Johnson and Kristin Sevald discuss refinancing. Rates are low and right now is a great time to refinance – for some.
Asking yourself the right questions are important. Before you refinance, give some thought to how long you expect to be in that home. Refinancing a home and then moving within 18 months is usually not a smart idea.
“Whenever rates are low, many borrowers will find that refinancing to lower interest rates makes financial sense. When you refinance, you are getting a new mortgage by first paying off the old one and then replacing it with a new one with a lower interest rate. This move can lower your monthly payment and the overall interest bill. You may also change the term of the loan to a shorter one thus paying off the loan earlier and saving on interest. By changing the term of the loan from, say 30-years to 15-years, you can build up equity more quickly on your home and cut the interest paid on the loan substantially.”
(Brian and Kristin in the KFGO studios)
Brian and Kristin also talk about the benefits of refinancing and knowing what you plan to spend the money on. For example, are you refinancing because you want to take a dream vacation or put the money towards remodeling a part of your home?
The simple fact is that we often hear “Refinance now!” yet we are unsure of what that means. Valley Mortgage is here to help you with answers and advice.
Find them on the web at
www.valleymortgageinc.com
or call them today at 701.461.8450
ADDITIONAL CONTENT:
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(Amy Iler & JJ Gordon are talk-show hosts at 790 AM KFGO in Fargo-Moorhead. “It Takes 2 with Amy & JJ” can be heard weekdays 11am-2pm. Check out the show page on
FACEBOOK.
Follow Amy on Twitter
@AmyKFGO
. Follow JJ on Twitter
@JJGodon701
.)