-- Industry accredited Jeff Baxter – Mortgage Advisor has launched a new expert report on the benefits of taking advantage of the new low interest mortgage rates and refinancing a home loan. He explains there are many options available to homeowners and highlights the merits of each.
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The newly launched report highlights the fact that due to the current economic situation, interest rates for home loans and mortgages are reaching record lows. Jeff Baxter – Mortgage Advisor suggests that now is the ideal time to secure a loan for renters who want to become homeowners, or those homeowners who are looking to change properties.
He also suggests now is a great time to refinance as this can save money. In short, refinancing allows the homeowner to secure a better interest rate and deal by paying off the existing loan and replacing it with a new one.
Refinancing is a useful option for homeowners for many reasons. Aside from saving them money, people may be able to reduce the term of their mortgage, switch from one type of mortgage to another such as changing from a fixed-rate to an adjustable-rate mortgage, and access their home equity to consolidate a debt or deal with a financial emergency.
Reducing the rate of interest on a mortgage can speed up the process of securing equity within the home and can reduce the payment amount per month. This is a good option for people who find their monthly repayment is no longer affordable, or those who simply want to have more money in the bank at the end of each month.
Accessing equity in the home can be a good option for homeowners who want to use the money to cover major expenses. This could be to cover the cost of remodeling a bathroom or kitchen, buying a new roof, or paying towards a child’s college fees. Taking equity out of the home may be a better option than securing a loan from another source.
A company representative said: “Things are tough right now and many of us have been figuring out how working from home will affect our businesses and our everyday lives. Now is the perfect time to refinance, or if you are thinking about buying a home and you need a lender while the rates are reasonable, you can do it all over the phone.”
To find out more, interested parties are invited to visit the link provided.
Release ID: 88991646