Should I Refinance My Property Now?

Absolutely! That is if you can… There is always a catch isn’t there? Rates are the lowest I have seen in my 25 years in real estate. The banks like to see 20% equity in a property, so if you have enough equity in your home then you can probably refinance, (with good credit that is…)  It’s true that the lending atmosphere is stricter these days, but these rates present a great opportunity to lower your monthly payment in today’s market! The current interest rates are in the mid 4% range with no points. So if you have a present rate of 5-6% you can save some serious money every month!! I recommend giving Bobby Licare, from Prospect Mortgage a call and he will walk you through the process to see if you qualify. Don’t put it off- Because rates are not going to stay this low for long! It’s a Great Time to Buy as well, so if you have some extra money to invest… Give me a call and I will be happy to answer your questions~ Gael.

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