Low Mortgage Rates=Budget Relief

Mortgage rates are low, as low as they’ve been for a long, long time. But they’re beginning to inch up again. Will the trend in higher rates continue? Will rates leave record low levels and start a new trend upward? Only time will tell. But we can tell you this, with these low current rates, right now is the perfect time to buy a new home or refinance an existing mortgage. You’ll save on two levels:

1) Depending on your current rate, you could save hundreds of dollars off your monthly mortgage payment by refinancing. You may even save on a monthly housing bill by buying now and ridding yourself of rent payments. You’ll help with taxes as well as mortgage interest is tax deductible.

2) Did you know that when you open a new mortgage loan, the closing process allows you to miss a month or two worth of payments? It’s true, while the loan is processed, you make no payment(s).

It’s the perfect way to help out your post-holiday budget. When you close on a mortgage loan in December, 2010, you’ll make no mortgage payment until February, 2011!

Click here to find out more about mortgages and home buying through Mortgage Solutions, LLC, a wholly-owned subsidiary of Vantage Credit Union.