Have you thought about refinancing your home loan?
Although the media makes it sound impossible to get a mortgage in today’s economic environment, at Sentinel Federal Credit Union, it’s business as usual. Rates have never been lower! Even if you haven’t thought about refinancing, here are three reasons why it could be a smart move for you:
- To lower your interest rate. For example, if your rate right now is 6.5% (6.787% APR) on a 30-year loan of $250,000 and you refinance to 4.0% (4.181% APR), your payment goes down from $1,580 to $1,193, saving you $387 every month!
- To shorten the term of your loan. If you’re in a 30-year loan now, you might want to refinance to a 15-year loan so you’ll be able to pay off the mortgage sooner.
- To refinance an adjustable-rate mortgage into a fixed-rate loan. If you don’t have a fixed interest rate on your home loan, now is the time to refinance to take advantage of historically low rates and lock in at a rate that you know will never go up. That’s peace of mind you don’t currently have.
Whether you want to save hundreds of dollars every month or save tens of thousands of dollars over time, or both, a mortgage refinance could be the answer.
Contact Pat Wahl, our Mortgage Loan Officer, today at 605-923-6772 or toll free at 888-923-1400 to schedule a free consultation or send Pat a message.
It’s quick and easy to refinance your VA Loan!
Now is a great time to take advantage of lower interest rates and refinance your VA Loan. You can quickly refinance with a Streamline Refinance, also known as an Interest Rate Reduction Refinancing Loan (IRRRL).*
- In some cases, no appraisal required
- No income verification required to qualify
- No out-of-pocket costs
- Fast closing
Save hundreds every month by refinancing your mortgage today! Contact Pat Wahl, our Mortgage Loan Officer, and ask about a VA Streamline Refinance. Call 605-923-6772 or toll free at 888-923-1400 to schedule a free consultation or send Pat a message.*Must be a VA to VA refinance and the veteran cannot receive any cash back.