Refinance to a Shorter Term, Save Thousands in Interest
With interest rates at historic lows, you are probably wondering if refinancing your home is in your best interest. The answer is, “it depends on your situation.” There are several times when refinancing makes sense and there are times when you should avoid a refinance. Reasons to refinance might include:
- If you plan on staying in your home for several more years,
- You can lower your rate by at least 1%,
- You have an ARM (adjustable rate mortgage) that is about to adjust with no or a small pre-payment penalty.
Before you refinance you should know your goals. Are you trying to lower your rate, lower payments, take cash out or shorten the term? Because refinancing involves closing costs in every situation, you should weigh your decision to refinance carefully. We recommend talking to one of our trusted WPCU Mortgage Loan Originators before you commit to what could be a very costly decision.
Retire Your Mortgage!
If you answered yes to any of the above reasons to refinance then a mortgage refinance could be in your future. Right now WPCU is offering to “Retire Your Mortgage.” This new program allows us to help you save money over the life of your mortgage. Refinancing to a lower interest rate and shorter term will save you thousands of dollars and get you a clear deed faster. We make refinancing a simple process and walk you through each step. Click here to learn more about Retiring Your Mortgage!
Mortgage loans processed and underwritten by myCUmortgage, LLC — a wholly owned subsidiary of Wright-Patt Credit Union, Inc. All loans subject to credit approval and property appraisal.
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