All one has to do is go on the internet or turn on the television to see the financial world is in flux. (Below are some links showing the same). While there are definitely some negative aspects, there are a few positive ones as well. One in particular is that mortgage rates are at an all-time low. This will make it easier for buyers to consider purchasing what they previously thought they could not afford. It will also benefit current homeowners by allowing them to refinance to a lower interest rate. By doing so homeowners can significantly reduce their monthly payment, pay their loan off faster, or in some cases both.
Some people may be nervous or even overwhelmed by the thought of getting a purchase money loan or refinancing their existing loan. While it is perfectly natural, a good attorney – as well as a good lender – can help you navigate the process to make it less stressful. If you are contemplating purchasing a home or refinancing your existing home loan, and have questions, please give us a contact us.