Take advantage of Refinance Program
by Andrew Hahn on Jan.26, 2010, under Loan info, Refinance
I can’t stress enough that it is a great time to refinance.
The Home Affordable Program helps those who have a Fannie Mae or Freddie Mac owned loan. This program will help those who owe more than their home well appraise for refinance at todays low rates. If your not sure if your loan is owned by Fannie Mae or Freddie Mac, it’s time to give me a call or CLICK HERE and I’ll help you.
This program actually helps a lot of people, even if you have a second mortgage you still could qualify, you need to check it out. If your current rate is at 6% or above you could potentially save a pretty good amount of money. The higher the loan amount the more you can save; the reason being that certain costs are fixed and on the lower loan amount the longer it is going to take to repay that cost vs. when your loan amount is greater than the savings is more that intern shortens the pay back time of the closing cost insuring value when you consider a refinance. The best way to calculate your savings is to get a Good Faith Estimate and find out what your monthly savings could be and what the time span would be to payoff the closing costs. CLICK HERE to obtain your free interest rate quote and free evaluation to determine if refinancing is right for you. Right now rates are remaining pretty low so nows still a good time to consider a refinance. Another factor to consider when refinancing is what is your time frame in which you plan on living in your property. If you are considering at some point in turning your primary residence into a rental again something to consider is it is a great idea to refinance locking in a long term low rate; now with that though in mind when you refinance your primary residence your really cannot turn that property into a rental property for 12 months. If you where to buy a new property they are going to want to cross reference information to determine this fact, so keep this in mind for future planning. Please leave any comments or questions you may have I’d be glad to address them. If your a Colorado residence and our considering a refinance please give me a call or email me I’d be glad to give you a free mortgage consultation to determine if refinancing makes sense for your situation. Andrew Hahn your Denver refinance professional; located in Commerce City Colorado serving Denver and the Metro area.
Andrew Hahn Mortgage professional for over 18 years, helping refinance in Denver and the Front Range; licensed in the State of Colorado.
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