In today’s economy, when we all have more expenses than we care to shake a finger at, the last thing we want to do is pay more than we have to.
So, if you're thinking that now might be the perfect time to refinance your existing mortgage loan, we at Forthright Funding couldn’t agree with you more. Here is why:
Through mortgage refinancing, homeowners have been afforded lower mortgage payments thus significant savings each month.
For example, let’s say you bought your home for $250,000 with a 30-year 6.25% interest rate, which means you currently pay $1,539.29 each month.
If you refinanced to a new interest rate of 4%, you could be potentially paying $1,193.54 each month, saving you $345.75 monthly. Just imagine the possibilities!
These savings amount to extra spending money, allowing you to pay down debt, pay expenses, go out to a dinner and a movie, sign your children up for extracurricular activities and more.
As you enter the process of refinancing your mortgage in order to achieve a lower monthly payment, it may be in your best interest to consult with one of our mortgage specialists.
Let our mortgage specialists help you understand your options – which there are many – prepare your application and answer any questions you may have by contacting us at (855) 351-9522.