Cindy Schweikert Hart West Financial Inc. Home Mortgages in Arizona, Washington, Oregon, Colorado, New Mexico and Utah

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Hart West Financial April 20, 2013

Why Should A Borrower Refinance Now Rather Than Waiting?

Is now the best time to refinance a home mortgage loan?

Is now the best time to refinance a home mortgage loan?

The real estate market is recovering and for many Arizona residents, this may be the right time to consider refinancing their homes.

This is especially true for those who have interest rates that exceed six percent or those who have an adjustable rate mortgage.

Refinancing Programs Are Better

One of the best reasons to consider a refinance on your home is there are programs available for homeowners who have perfect credit, less than perfect credit and those who are still slightly underwater on their mortgages.

Many lenders have eased up on some of the restrictions which were put in place following the real estate crisis and are more willing to work with homeowners.

Interest Rates Are Still Low For Homeowners

The best reason this is a great time to refinance is interest rates.

While the stock market has continued to rise, to never before seen highs, the bond market has remained largely stable.

However, as the overall economy has improved, mortgage rates are slowly climbing.

Interest rate increases could shut more people out of the refinance market.

As interest rates slowly climb, more people may find it challenging to refinance their mortgages.

You May Reduce The Term Of Your Loan

For some borrowers, the low interest rates may offer an opportunity to reduce the term of their loans.

For example, if you currently have a 30 year mortgage that you have been paying on for nine years, you may be able to lower your payment and reduce the overall term of your mortgage to 15 years.

Because rates are still low, this can help borrowers save thousands of dollars over the life of their loan.

Delays Could Be Costly

Delaying refinancing your home could result in paying far more in interest rates and overall home loan payments.

As the economic picture continues to improve the Federal Reserve is likely to stop their bond-buying program which could mean an increase in home mortgage rates.

For many borrowers, waiting could make the difference between qualifying for a loan and not qualifying.

Whether you are considering refinancing your home because you want to pay off credit card bills, reduce the term of your loan or simply take advantage of low interest rates, the time to consider doing so is now.

Those who wait may risk higher rates which can be costly not only at the time of application, but over the life of your loan.

Hesitation Could Be Costly!

Call HartWest Financial at (480) 596-5151 or email for a personal refinance consultation on your home.

Filed Under: Custom Content, Mortgage Rates Tagged With: Custom Mortgage, homeowner, low interest rates, Refinance

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About Hart West Financial

Hart West Financial is a home mortgage firm licensed in Arizona, Colorado, New Mexico, Oregon, Utah, and Washington. They take pride in offering top-quality service and providing very competitive pricing due to their non-commission loan officer based business model. Call Hart West Financial today at 800-910-1937 to get your home loan approved today!

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Hart West Financial, Inc.
9805 E Bell Rd. Ste 120
Scottsdale Road, AZ 85260
NMLS #116830
AZ MB 0901832; CO 100008133; NM 01938; OR ML-2751; UT 5491769NMLC; WA MB-116830
Cindy Schweikert Loan Originator NMLS #116611
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9805 E Bell Rd. #120
Scottsdale, AZ 85260

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