7 Reasons to Refinance This Fall

Posted on September 30, 2021

family sitting on couch

Mortgage rates are at historic lows but according to a survey by Bankrate, 74% of homeowners haven’t refinanced yet. When asked why, the majority of those surveyed said they didn’t think it would save them enough money to be worth the trouble. Many members we work with are surprised at the impact even a small reduction in APR can make when it comes to lowering their monthly payments and overall finance charges.

If you’re on the fence about refinancing, consider some of the top reasons for taking advantage of today’s low rates.

  1. Lower your monthly payment
  2. Convert your adjustable-rate loan to a fixed-rate loan
  3. Consolidate high-interest rate debt
  4. Eliminate mortgage insurance
  5. Renovate or update your home
  6. Pay your loan off sooner with a shorter term
  7. Purchase a vacation home or investment property

See examples of how much you could save by refinancing. There’s no personal information to provide, so enter as many scenarios as you’d like and compare the rates and programs that may be available to you.

Refinancing your mortgage doesn’t have to be a hassle. From helping you decide whether refinancing is a good choice for you to closing your loan, we’re here to help every step of the way. The leaves may be falling, but interest rates are predicted to rise as the economy slowly recovers. Don’t wait until it’s too late. Call now to speak with a mortgage loan officer or apply online to take advantage of record-low rates while they last.

Loan approval based on creditworthiness, amount financed, and ability to repay. Terms and conditions are subject to change.