Sign up today at Front Range Mortgage in Denver, Colorado Springs, Vail or Steamboat Springs and get your annual FREE MORTGAGE CHECK UP. As a service to our clients we are offering you this as a FREE annual service to keep you updated of new mortgage options as well as continue to make myself available to answer any mortgage/real estate questions you might have.
Buy a Home in Colorado Springs
The Federal Reserve has continued a series of interest rate increases that are likely to translate into higher mortgage interest rates. A little planning now may save you thousands of dollars in a rising interest rate environment, especially if you have an adjustable rate mortgage.
I may end up telling you that you currently have the best loan for your situation, but at least you have the peace of mind there are not other better options available. I may also end up suggesting a few mortgage alternatives that would improve your financial situation. Here are a few scenarios recently closed by our office that may also work for you.
Our client went from a 5.75%, 30 year fixed rate to a 5.00% 15 year fixed rate. Total savings over the life of the loan $101,000.
Our client took cash out to pay off a truck loan. Her mortgage payment went up 64 dollars a month a she eliminated a $738 truck payment.
Our client closed on a 100% interest only loan and paid off two vehicle loans. The monthly savings were $438.
Our clients refinanced out their adjustable rate loan that was set to adjust next year, she selected a five year interest only loan that will allow her to ride out the next several years of higher interest rates.
Our client refinanced into a 10 year interest only loan that allowed him to invest $374 each month into his retirement account without any additional out of pocket money.
If you would like to find out if you have the best mortgage for your situation just E-mail or Call Brian at Front Range Mortgage in Denver for your FREE MORTGAGE CHECK UP. Let us know what you are looking to achieve. Here are a few examples.
- I would like to lower my payments.
- I would like to reduce the term of my mortgage.
- I would like to consolidate my bills.
- I would like to get some cash out.
- I would like to know more about interest only loans.