Is It The Right Time to Refinance Your Florida Mortgage Loan?
The answer to that question really depends on your unique personal circumstances. That’s why while Guild Mortgage Inlanta offers many options to help Florida homeowners lower their mortgage rates or free up cash for renovations, college tuition or other important life events, we always recommend talking to one of our S.M.A.R.T. mortgage specialists before you apply.
When you refinance your home, you are paying off an existing loan with proceeds from a new loan. Generally, when you refinance you are taking advantage of improvements in your credit, built-up equity, changes to terms, or drops in market interest rates. Benefits of refinancing can include lowering your current payment, changing the term of your loan to raise or lower your amortization length, or borrowing against the equity in your home to get cash out.
With today’s historically low interest rates, many people find it beneficial to refinance to take advantage of great rates or to shorten the amortization period of their mortgages to reduce lifetime interest paid. Those not looking to cash out some of their equity will find our Streamline refinance options fast and easy. Read the rest of this entry »
It’s true that mortgage rates are at a historic low right now – so low that you might be inundated with junk mail, spam and calls from churn-and-burn mortgage companies. In fact, today’s rates are not so far from the all-time low for the benchmark 30-year rate. which was 3.5 percent in December of 2012. With rates slipping over the past few months, affordability for purchasing is increasing.
One of the biggest hurdles that First Time Home Buyers face is saving up for the down payment. There are many misconceptions that home buyers need to have at least 20% down; which can add years to the buying process for the funds to accumulate. When a home is purchased with less than 20% down there is required PMI (Private Mortgage Insurance) that is added to the monthly mortgage payment.
At Inlanta Florida, we think “outside the bank” with our S.M.A.R.T. Mortgage Consultation. S.M.A.R.T. stands for consultations that are: Strategic, Mindful, Authentic, Results-oriented, and Timely. It takes more than great rates to make a great mortgage. It takes the right team, the right product and the right process to set you up for future financial success. Inlanta is different in that we listen, we assess your unique circumstances and goals, and then we find the right fit for your financial future.
Are you a renter who hopes to one day own your dream home? Are you looking to move up from your starter home? Did something catch your eye driving by?
There are lots of places on the internet to learn your credit score. But if you’re planning to purchase a new home, these online scores don’t tell the whole story. A consumer score is meant to be educational. All information is the same that will be found on a mortgage report, but the weight given in scoring is completely different. The idea is that the consumer can see how they compare to national averages and can catch errors. Mortgage scores are based on FICO Scores, which have many different versions and the newest model is rarely used right away in the industry.