Refinance Home Loans Before Interest Rates Climb Again
With interest rates low, it makes sense to refinance home loans. In the past two years, I've refinanced my home mortgage two times to lower the interest rate and take equity out of my home, so I could invest it elsewhere, rather than allow it to sit idle, earning nothing.
There are two schools of thought with regard to paying off your home mortgage. Suze Orman, the touchy-feely financial wizard for Oprah magazine, recommends that you do whatever feels most comfortable to you. If you don't like being in debt, pay off your home mortgage.
On the other hand, Ric Edelman, author of The New Rules of Money, recommends that you never own your home outright. Instead, he urges you to get a big 30-year mortgage and never pay it off. According to Ric, every time you send your mortgage company an extra hundred dollars, you "deny yourself the opportunity to invest that $100 elsewhere." In essence, you are giving up your opportunity to earn interest on your money.
No matter how you feel about paying off your mortgage, it's smart to refinance your home loan and get a better rate. A lower interest rate translates into lower monthly payments and lower interest paid over the life of the loan. If the current interest rate is at least one point lower than the rate of your mortgage loan, it pays to refinance home loans. Although there are costs associated with refinancing, you'll save money in the long run. Your home mortgage is the cheapest loan available, so it makes sense to use it to your advantage.
In the past two years, I've refinanced home loans twice with Heather Enbysk of Allied Home Mortgage, who has made the process as quick, easy and painless as possible. Heather has developed and funded over $28 million in loans just like yours. Her office staff combines over 50 years experience and can assist in finding solutions to your needs: first time homebuyers, credit blemishes, no income documentation, no equity, etc.
Allied Home Mortgage Capital Corporation is the largest U.S. privately held mortgage banker/mortgage broker with 700+ offices in 49 states, Guam and the Virgin Islands. AHMCC presently funds over $1 Billion in loans each month. AHMCC's relationships with over 850 investors allow it to deliver customized products to you.
For fast, reliable service from a professional who is courteous and helpful, contact Heather Enbysk of Allied Home Mortgage. Include your contact information and she will get back to you ASAP. Make sure to tell her Laura Ramirez sent you.
You'll be impressed with Heather's personable service.
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