It could be time to refi!

Mortgage rates for a 30 year fixed conventional mortgage are back to very low levels. This is largely due to current global concerns which may create a opportunity of opportunity for those who may benefit from a refinance.

It may make sense for you to refi if:

• Your current mortgage rate is in the upper 4’s or higher;
• You have private mortgage insurance in your monthly payment;
• You have an FHA mortgage;
• You have an adjustable rate mortgage (ARM);
• You have a home equity line of credit/second mortgage;
• You have high interest revolving debt you would like to consolidate;
• You have student loans you would like to pay off;
• You would like to make home improvements;
• You would like to take cash out.

As of Monday, June 3, 2019 at 11:08 am, I’m quoting for a 30 year fixed conventional “rate-term” refi:

3.875% priced with 1.093 points (APR 4.021%). This is based on a $400,000 loan amount at 80% loan-to-value with mid-credit scores of 740. Principal and interest payment (does not include property taxes or home owners insurance) is $1,880.95.

Rate quoted is subject to credit approval and may (WILL) change. If you want to lock in today’s low rates, you need to start a loan application now! 

Also, I should note that depending on where the property is located, you may qualify for improved pricing and some refinances may qualify to have the appraisal waived. 

If you have any questions or are considering buying or refinancing a home located in Bellingham, Bainbridge, Battleground or anywhere in Washington state, please contact me!