It’s that time again! The time when we set our biggest goals and hopes for the New Year!
But be honest: how long do you make a real effort at your resolutions before giving up, or just simply forgetting?
Yep. Us too.
But what if we told you you could keep your resolution this year, with little effort on your part? That we’ll do all the hard work for your resolution, and you could sit back and reap the benefits?
If your resolution this year is to save more of your hard earned money, we may be able to do just that.
We’ve been looking through our files, and have found that we have a lot of clients who could save money with a refinance. How you ask?
- Interest rates have dropped since many loans have closed, and we have a lot of people who may qualify for a lower interest rate. You could be one of them!
- Home values in our state have been skyrocketing. Depending on the current value of your home, the loan-to-value ratio may have changed in your favor. That can result in lower interest rates, and/or no longer being required to pay mortgage insurance.
This can potentially reduce the amount of interest you pay over the life of your loan, and lower your monthly payment!
Voila! A little more money back in your bank account.
We’re going to start reaching out to those that we believe could benefit, but if you don’t want to wait, give Myles a call now to find out!
One more thing.
What you do with that extra money is completely up to you, but keeping with the theme of New Years resolutions, we would like to make a couple suggestions that will benefit you in the long run.
- Set up an automatic transfer to your savings account, for the difference in your monthly payment. That way you won’t just spend away your newfound money! Twelve months from now, we bet you’ll be so happy you did!
- Keep making the same total mortgage payment as before, but apply those extra savings to principal. You’ll pay off your loan faster, and further reduce the amount of interest that you pay.
Happy New Year from all of us at Seafirst!