We provide information about several mortgages & home loans in Dallas Texas (TX). It varies from conventional mortgages, jumbo home loans, reverse mortgages to VA home loans, a benefit Americans receive for serving their country as part of the military.
The fixed-rate mortgage has no surprises, the interest rate stays the same over the entire term, usually 15, 20 or 30 years. When considering the type of mortgage, keep in mind that for example the reverse mortgage is more suited for seniors, it allows them to convert equity in their homes to cash, they don’t have to pay back the loan and interest as long as they live in their house.
Refinancing your current mortgage might be an option as well. Lowering your interest rate could be interesting. Lower rates usually mean lower payments. Changes in the market condition might get you a lower rate or because of an improved credit score.
Lowest Mortgage Rates In A Lifetime
When it comes to mortgage rates Dallas Texas mortgage loan companies are all agreeing that we are seeing the lowest rates in this lifetime. That is why experienced lenders are urging potential buyers and refinancers not to wait. If these are the lowest possible mortgage rates. Making the decision to purchase a home or refinance your current mortgage now could save you a ton of money in your lifetime.
If you are buying a home, then the low mortgage rate is not the only deal you will get. It is also widely believed that the housing market has finally balanced out. Now is the time when you will get the best possible deal on your dream home. Add that to the savings you will see from your incredibly low interest rate and you will be saving hundreds of thousands of dollars on your purchase.
Whatever your current interest rate, the current competitive mortgage rates Dallas Texas buyers are receiving are sure to be lower. If you have been in your current home for several years you may believe that a refinance will not save you any money despite the low rates. We encourages you to meet with a lender to go over the math. There are many ways that a refinance could save you money over the life of your loan no matter how long you have been in your home.
The Federal Reserve has only established policies to maintain low mortgage interest rates for a certain amount of time. Don’t miss out on the opportunity of a lifetime by waiting to purchase a home or refinance. Talk with a lender today to get started on the loan application process.