As you may be aware, the Federal Reserve has already begun its path to raising interest rates. We are expected to see an additional 1.0% increase by the Feds over the next year. Because of this, there will NEVER be a better time to revisit your mortgage to make sure that you are in the best loan structure possible.
Here are several items that you could benefit from:
- Cutting your term to a 15 or 10 year mortgage -- rates on these mortgages are EXTREMELY low and could have your mortgage paid off for good in a very short time
- Values HAVE increased!!! This may allow you to get rid of PMI or even roll a higher rate second mortgage into your first at a lower rate
- Move from a higher rate government loan, such as FHA or Rural Development, to a lower cost conventional mortgage
Call or E-Mail me soon!! 734-433-0922 or jon@mykalamortgage.com