Why Get an Annual Mortgage Evaluation?
Congrats, you're a homeowner! This is an incredible milestone that calls for celebration. Pop the champagne!
While the most challenging part is behind you, establishing good financial hygiene is essential to managing and maintaining your financial health going forward.
It’s important to conduct an annual mortgage evaluation.
Why Do You Need an Annual Mortgage Evaluation?
As your life circumstance change, an annual mortgage evaluation will help determine if modifying or refinancing your mortgage will give you a better deal.
Household income, marital status, debt, and planned or unplanned large expenditures are all factors that impact your options.
By routinely evaluating your finances with a mortgage professional you can establish a baseline from which to measure, strategize, and plan as life circumstances evolve.
Economic conditions are also in constant flux. Interest rates change daily according to U.S. Federal Reserve policy, Treasury bond yield, supply and demand, etc. Interest rates in turn have a powerful impact on home values, which impact your loan options.
The market dynamics are complex, and a good mortgage broker is always tracking and analyzing on your behalf.
Potential Benefits of an Annual Mortgage Evaluation
Your annual mortgage evaluation can help you identify cost saving opportunities. Your mortgage specialist may uncover options to:
Secure a better interest rate
Reduce your monthly payment
Update your loan term
Drop mortgage insurance
Cash out refinance (tap into your home equity for other investments)
Conclusion
Taking into account life changes and shifting market conditions, an annual mortgage evaluation allows you and your mortgage specialist to identify opportunities to get you a better deal.
The best part about the annual mortgage evaluation is that it’s free.
Long Grove Mortgage is committed to the financial longevity of our clients. We are honored to support you through the life of your loan and beyond.
Book your annual mortgage evaluation today!
847-634-2252
info@longgrovemortgage.com
NMLS #210846
