Today, fixed-rate mortgages are the way to go
Any home loan plan’s choice varies from person to person. Because the mortgage’s repayment varies depending on the value and duration of the loan (number of years), it is always best to calculate the different permutations and combinations. If you want to take out a loan on the current market, the 30-year guarantee exceeds the small savings you could earn from various other loan products. To perform these calculations, you can use a mortgage calculator.
There are many decisions when buying a home. One of them is the type of loan product you should use. With interest rates, payment terms, and points, we’ll help you select the best option for you!
Why Are Mortgage Rates So Low Right Now?
Low interest rates reflect a weak economy. This is mainly due to the coronavirus pandemic.
Should I Lock My Mortgage Rate Today?
Interest rates change daily, even hourly. It’s wise to lock a rate that you feel comfortable with the payments, as small increases will cost you more over the lifetime of the loan.
What Is The Best Day Of The Week To Lock In Mortgage Rates?
Mortgage rates are usually stable on Mondays, making it the easiest day to lock into a rate.
Take Advantage Of Today’s Historically-low Rates!
Rates continue to remain at an all-time low. They are starting to increase gradually, so you may want to pull the trigger now if you’ve been contemplating to refinance or obtain a new loan. In this current market, fixed-rate loans will offer more savings since they are so low as opposed to an adjustable-rate mortgage.
Lock In A Rate While You Can
With still some uncertainty with the COVID-19 pandemic, we can expect lower rates while the economy is still in disarray. Conventional mortgage rates continue to sit at an all-time low. You may be able to save even more through other mortgages such as VA loans, FHA loans, or USDA loans.
Are Your Finances Ready?
In order to ensure a smooth loan process, make sure you’re financially ready before applying for a new mortgage or refinance. Remember a portion of the rate offered to you is reflected on your own personal economic profile, so no need to rush in if you haven’t got your finances in check first. Now if you’re ready, you can go lock in an incredibly low rate and we’ll help you every step of the way.
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A Lending Hand for Financing Home Mortgages
Spire Financial (A Division of V.I.P. Mortgage Inc.) brings lending expertise to you. All of our loan officers offer personalized communication for every client, guiding them through the process. We can show you ways to maximize your finances and unlock future opportunities. Spire Financial keeps you in control of refinancing, debt consolidation, and home equity. Together, we can achieve your financial goals.