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With Mortgage Rates Near 50-Year Lows, How Much Could You be Saving Every Month?on 2011

احدث اجدد واروع واجمل واشيك With Mortgage Rates Near 50-Year Lows, How Much Could You be Saving Every Month?on 2011

With Mortgage Rates Near 50-Year Lows, How Much Could You be Saving Every Month?
With all of the recent financial turmoil, many people are surprised to learn that mortgage rates are currently near 50-year lows.  The reasons are complex, but the opportunity for home owners couldn't be clearer.

For many, it means they could be making significantly lower monthly mortgage payments on the same loan amount.

Little wonder then that many homeowners are now considering re-financing to lock in these new lower rates.  The savings, both in terms of lower monthly payments and savings over the lifetime of your loan could be significant, savings that may more than compensate for any fees associated with obtaining a new loan.

If history tells us anything it's that it is impossible to predict where markets are going.  Next year, or even 6 months out, financial shocks could send rates skyrocketing again.  If you have an adjustable rate loan, you could wake up one day to find that your interest rate and the amount of your monthly payment is suddenly significantly higher.  For people struggling to make ends meet as it is, that could be devastating. That's why experts are advising people to lock in a low rate if they can.

If you want to quickly find out how much you could save by refinancing, one place to start is LendingTree.com, one of the largest online mortgage resources in the country.  Using a service such as LendingTree allows you to quickly and easily receive up to four loan offers from lenders, making it easy to see how much you can save.

LendingTree also has a great mortgage refinance calculator, the Mortgage Checkup, to help you compare your mortgage home loan to current loan options and interest rates, and decide if refinancing is the smart move. Then, once you're ready to refinance, LendingTree can connect you with lenders providing a wide range of home loans including cash-out refinancing.

In addition to helping you find the lowest rates on fixed and jumbo loans, LendingTree can also help you get an FHA loan or a VA loan.  FHA loans are great for folks with less home equity and lower credit scores and VA loans are a top benefit of military service.

And if you owe more than your home is worth and previously couldn't qualify for a refinance, you may qualify for the government's new Making Home Affordable plan. With a new, streamlined refinance program from Fannie Mae, you may be able to refinance your mortgage to a low, fixed rate. This is fantastic news for nearly 5 million people who couldn't previously refinance under traditional guidelines.


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