With interest rates at all-time lows, now is the time to consider refinancing. Did you know there are title policy discounts available to some homeowners when refinancing? There is! Here are the top 5 reasons to refi now.
Mortgage interest rates are at an all time low and are currently averaging at 3.25% but can be as low as 2.5% for some!
Securing a rate 1-2% lower than your current mortgage can save you hundreds of dollars a month.
PAY DOWN / PAY OUT
Alleviate the burden of high interest debt by refinancing your loan with a new, lower rate or shorter term loan to potentially save thousands of dollars over the course of your loan.
AVAILABLE TITLE POLICY CREDITS
If the loan you will be refinancing is a previously insured loan that is less than 4 years old you may be entitled to a 50% credit on the cost of the new title policy. If the loan being paid off is between 4 and 8 years old you may be entitled to a 25% credit on the cost of the new title policy.
REMODEL OR MAJOR ONE-TIME PURCHASE
Take advantage of the equity you have in your home to
take out a home equity loan for that remodel you’ve been
thinking about for years or for a major one-time purchase.
For more information on refinancing, or to discuss your options contact your local lender. If you have questions about title insurance and fees contact your local Republic Title Office.