The Home Refinancing Plan Banks Don’t Want You Knowing
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Last updated: February 10th, 2015
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There has never been a better time to refinance your home. That's because of a little-known government program called the Home Affordable Refinance Plan® (HARP). This allows Americans to refinance their homes at shockingly low rates, and reduce their payments by an average of $3,300 a year.
But here's the catch - like most government programs, this is likely temporary. Currently the program is set to expire on December 31, 2015. But the good news is, once you're in, you're in. If the thought of a lower payment or fewer years on your mortgage sounds appealing, the time to act is right now.
If the thought of a lower payment or fewer years on your mortgage sounds appealing, the time to act is right now.
Quick Version: Smart homeowners are using a free government program to save as much as $3,300 a year on mortgages. There’s absolutely NO COST to see if you qualify. Click here instantly to see if you qualify.
It's like a true middle-class stimulus package
This is unknown to many, but the Home Affordable Program is for the middle class. If your mortgage is $625,500 or less (unless you live in a high-cost area then the loan limits may be higher), you most likely qualify. Basically, the Government wants banks to cut your rates, which puts more money in your pocket (which is good for the economy). However, the banks aren't too happy about this - here's why:
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You can shop several lenders, not just your current mortgage holder
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Your home's Loan-to-value (LTV) can be 80% to 125%
You think banks like the above? Rest assured, they do not. They'd rather keep you at the higher rate you financed at years ago. That's why the pressure is on time-wise. The Middle Class seems to miss out on everything (did you ride the last stock bubble? Probably not). Thus, it's almost a no-brainer to jump on this now. You need to act fast in order to refinance your house at these current low refinance rates. You can greatly benefit:
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The average monthly savings for most eligible Americans is $275. Can you use an extra $275 a month?
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Many homeowners not only save every month, but depending on their current rates, they can also shorten their term.
Almost a million homeowners could still save money, but sadly, most of them think the HARP program is too good to be true. Remember, HARP is a free government program and there’s absolutely NO COST to see if you are eligible. Instantly see online >>>>
This is why it's a no-brainer - you will likely lower your payment, possibly shorten your term, AND can also get cash. This is how powerful that little word called "interest" is. The middle class never sees "breaks" like this. So this is your chance to get "in".
This often overlooked method to lower your payment (and continue to make the higher payment by directing the excess to the principal) is a great way for you to pay off your mortgage in a shorter period of time, all the while saving more money in interest over the life of the loan.
But how do you find these rates?
Here's the answer - there are a few free websites out there that will compare mortgage rates for consumers, and allow them to choose the best one (that’s a great thing about the internet – it allows you to do business with lending institutions all over the country).
NationalmtgQuotes.com, one of the country's largest and most respected mortgage refinance comparison shopping websites, is one of the few companies with HARP lenders on its network, and is currently assisting homeowners like you to obtain further information regarding superb mortgage rates.
With NationalmtgQuotes.com there’s no obligation and the service is fast & easy. It takes about five minutes, and the service is 100% free. You have nothing to lose except money stress.
But you do have to act before rates rise.
SELECT YOUR STATE:
Step 1: Click your state on the map to instantly check your zip code for free.
Step 2: Once you go through a few questions, you will have the opportunity to compare the best quotes in your area for an average savings of 32% a month.
Top 5 Tips to Save on Mortgage
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Shop around to see if there are big price differences between companies Often you can save in the quadruple digits just by switching to another carrier.
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Understand that rates are always changing and everyone wants more business Insurance companies sometimes can offer huge discounts to just land you as a client.
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Drop certain coverages that you don’t need to save big For example if your car is paid off, you’re no longer required to maintain full coverage.
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Raise your deductible as high as you can afford to When you raise it, the insurance company faces less risk so it gives you a generous discount.
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Be a good driver If you drive safe, have no accidents or DUI, you can already get a discount.
Little-Known Facts About Home Equity
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It’s a myth that the color of your car affects the price of your car insurance
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The internet allowed for premiums to decrease dramatically due to ease of comparing quotes
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All 50 states require drivers to carry car insurance
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On average a driver will have an accident claim once every 17.9 years
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On average a driver will have an accident claim once every 17.9 years
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Auto premiums usually go down substantially after a driver turns 25
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Most common auto insurance claims: fender benders, theft, whiplash, vandalism and windshield damage
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55 out of every 100,000 registered motorcycles was involved in a fatal crash, compared with only 9 out of every 100,000 passenger cars.
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Your car insurance may not cover theft or items from inside your car. Check with your insurance agent
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Insuring a pre-owned car can save you up to half on your premium
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Average Loss per Claim is $4,200
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Married drivers have less accidents and therefore get the married discount due to lower risk.
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Credit rating can affect your premiums as much as a past ticket or accident
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Your driving record can predict how long you will love. Research shows people with no tickets or accidents live longer on average regardless of the type of death.
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Paying month to month will increase your premium because you are viewed as a higher risk.