July 31, 2009

If you have a VA loan and your rate is 6% or higher, now is a good time to consider an interest rate reduction loan.  This VA refinance loan is very easy, with low closing costs, and can save you a lot of money if you are planning in staying in your home.  Just give us a call and let us see how much money you could save!

By the way, even if you don't have a VA loan, you could potentially save a lot of money by refinancing while rates are so low.  You have to take the first step, call us to see how low your monthly mortgage payment could be!

June 30, 2009

Even though rates are higher today than they were a month ago, we are still helping people save money.  The Fannie Mae program "refi-plus" has been expanded and is mhelping people who, otherwise, would not be able to refinance.  It is an exciting program and appears to be doing exactly what it is supposed to do.  Your mortgage must be currently owned by Fannie Mae to qualify.  Go to Fanniemae.com to see if your home loan is a fannie mae loan.  Let us know if there is anything we can do to help.

May 29, 2009

We are a little depressed today because of rising interest rates. However we are still helping people save money and helping them to buy a new home. Many reports are indicating that things are beginning to improve in the housing sector.  Inventories of homes for sale are decreasing.  Take advantage of great buying opportunities while they still exist. 

For every .125% reduction in your interest rate per $100,000 borrowed you will save approximately $7 per month.  So, if you have a mortgage of $200,000 at 6.375%, we can save you 7 x 9 ( there are  nine .125s in 1.125%) x 2 (for 200,000) equals a monthly savings of approximately $126.  Divide this into the closing costs typical for where you live.  In Memphis, TN, the typical closing costs on a loan this size would be around $2,200.  When we divide 2,200 by 126 that equals 17.46. In this example it would take seventeen and a half months to "break even" on refinancing.  If this person knew they were going to be living in this home for a number of years, it would make sense to refinance because every month beyond the 17 and a half years, they would be saving real dollars.

NO ONE knows what will happen with interest rates.  Let us run some numbers for you to see how much you could be saving.  Give us a call, 901-260-1478. 

Please e-mail me with any questions you may have on your mortgage.

Thanks!

Sam Goff 

December 10, 2008

We now have a low interest rate product for JUMBO loans.  We have 5 year ARM loans with rates begining in the upper 5% range, depending on loan size and the state in which the home is located.  We also have a fixed 30 year mortgage for Jumbos that is in the 6% range! There is a "simplified process" for the application as well.  Give us a call or e-mail us today to save hundreds of dollars in mortgage payments! 

Thanks for visiting my web-site!

Sam