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Offered by Jan Giuliano

One of the questions I keep getting asked “is now a good time to refinance?” Yes! With interest rates still at historic lows and a broad portfolio of products out there to choose from, now is a good time to consider refinancing your mortgage.

If your current interest rate on your mortgage is significantly higher than today’s lowest rates, you may be able to save by refinancing. Refinancing your mortgage may:

  • Lower your monthly payment and reduce the amount of interest you are paying.
  • Enable you to shorten the term of your loan to pay it off sooner. This option may raise your monthly payment but could save you substantial interest over the term of the loan.
  • If you’re in a variable rate, it may allow you to refinance into a fixed rate for the term of the loan.
  • Help build equity in your home quicker.
  • With the reduction of the FHA annual Mortgage Insurance Premium rates, your monthly payment could be lower.

If you’ve had your current mortgage for at least 3 years, you’ve probably reduced your balance enough to tack your closing costs into your new loan and still end up with a mortgage that’s smaller than your original loan with a lower interest rate and lower monthly payment. There are other considerations, but contact your lender for questions.

Call Frank, Jan, or Mitch at Academy Mortgage, at 303-450-1650, so together we can decide if refinancing is a good option for you.

Click here to view The Giuliano Team at Academy Mortgage Corporation on The Brighton Buzz Business Directory

The Giuliano Team at Academy Mortgage Corporation