If you’re a homeowner in the Houston area and you’re thinking of refinancing, you have a few options. One is to go to your bank or credit union. Another is to call a traditional finance or mortgage company.
Your smartest move might be to call a Banker mortgage texas. Houston homeowners who are thinking of a re-fi will find that a mortgage broker doesn’t represent one company. S/he has access to hundreds of different load programs, and the people who operate them are competing for your business…and if you remember anything about how “free markets” are supposed to work, you know that competition means lower prices – or in this case, lower interest rates.
Here’s another reason why now is a good time to call a mortgage broker. Mortgage online texas, like others around the country, have been seeing this “correction” in the housing market, which is having ripple effects through the whole economy. Some people who took out adjustable rate mortgages (ARMS) when homes were overvalued are now in situations in which those mortgage interest rates are starting to climb – and meanwhile, they’re finding their homes worth less than they were before! This not only means an increased house payment, but also a situation in which they owe more on the house than they can sell it for!
Now is the time to bail out of those ARMS and lock in a low rate, because the Federal Reserve has not lowered interest rates to historic lows. This means savings for mortgage banks that they can pass on to you!
Need more reasons to call a mortgage broker? Houston homeowners who are carrying a load of unsecured debt can consolidate those monthly bills, pay off those high-interest credit cards, improve their credit scores, and enjoy both lower payments and a nice tax deduction!
It’s true. Before 1982, credit card interest was deductible for regular working folks. President Reagan changed all that with his tax reforms that helped a lot of big corporations, but didn’t do much for those who actually have to work for a living! Suddenly, normal working folks couldn’t write off that interest anymore.
By using an equity loan to pay off those high-interest credit cards, you’ll not only improve your credit score and lower you monthly payments – you’ll be able to write that off of your taxable income!
It’s a no-brainer, people…with today’s low rates, there’s no reason not to put in a call today to your local mortgage broker.
