REFINANCE NOW – MORTGAGE RATES AT ROCK BOTTOM
To consider – what is your home worth? Ask us at Bain Real Estate & we can help you. Now
how much do you owe on your house? Look on your monthly statement or call your lender, but have
your loan number handy. Get the loan-to-value ratio by substracting what you owe from what your
house is worth (you owe $80,000 on a $100,000 valued home, then your loan-to-value ratio is 80%).
Do you have a 2nd lien? If the loan-to-value ratio is 100%+, then call your mortgage servicer & be a
candidate for the Home Affordable Refinance Program. If less than 90% then talk to your servicer &
see what they have to offer on a refinance before going to other lenders. They will want to know all
your other accounts to see what interest rate they will charge. Also if you have paid your loan off
for 5 years on a 30 year mortgage, then refinance for 25 years to be finished at the same time. While going through this process do NOT buy another major item. Wait until the refinance closes.