Interest rates recently hit historic lows, making it more affordable than ever before to borrow money. For those who have yet to purchase a home, now is the time! Mortgage rates can hardly go lower, meaning less interest paid on the loan over time. Additionally, home appreciation marches higher year after year. The longer one waits, the more investment growth is being missed.
For many others, who already own a home, this presents a different opportunity. Refinancing your mortgage can save you money. One NeighborWorks Waco client recently refinanced her mortgage. Originally, her rate was 7%, but with the assistance of NeighborWorks Waco’s Mortgage Loan Origination team, she was able to lower her rate to 2.5%, saving her tens of thousands of dollars over the life of her loan.
The money saved on each month’s mortgage payment can be reinvested into home improvements, beautification projects, or other efforts, which in turn promote the local economy. We understand that you work hard for your money. Refinancing can help you keep more of it. To find out how much you can save by taking advantage of today’s low interest rates, call Delisa Burnell-Smith (NMLS # 296823) today at (254) 265-6973. NeighborWorks Waco (NMLS # 336077) is an equal housing lender.