When you visit the RateMarketplace™ official website, you may be stunned at the unusually low interest rates available.
One of the best-kept secrets that could save you a substantial amount of money is a government program called the Home Affordable Refinance Plan (HARP). You may be one of millions of American homeowners that will save big by refinancing your homes at shockingly low rates. In fact, many homeowners are reducing their payments by as much as $4,905 each year.
Like most helpful government programs, though, this benefit is unlikely to last long. The good news is that once you’re in, you’re in. If lowering your payments, reducing the number of years on your mortgage, and even taking some cash equity out of the deal would help you, the time to act is right now.
A Real Stimulus Package For The Middle Class
Most people are unaware that the Home Affordable Refinance Program is designed to help middle-class Americans. If your mortgage is less than $625,000, your chances of qualifying are high. The Government wants banks to cut your rates, which puts more money in your pocket, ultimately boosting the economy.
But the banks are not happy about this. Here’s why:
- You have the option to shop lenders other than your current mortgage holder
- Your home’s Loan-to-value (LTV) may be 80% to 125%
Of course, banks make more money if they keep middle-class Americans at the higher mortgage rates that were negotiated years ago. They are currently putting pressure on the Government to reverse this program. “People can really take advantage of this,” Obama recently said in Washington, DC, urging homeowners to refinance sooner rather than later. The middle class seems to miss out on everything, and jumping on this benefit is a no-brainer. Act fast to refinance your house at these near-historic low refinance rates. If your mortgage rate is higher than 3.11%, you could be saving thousands.
- The average monthly savings is $250. Could you use an extra $250/month?
- On top of additional monthly savings, many homeowners also shorten their term.
- The rates are at an all-time low right now, meaning that taking a little cash equity for home improvements, a vacation, or a boost to the savings account is a viable option.
How much could you be saving?
Here’s an example of how much you could be saving by a rate of 3.25% and 6.75% (based on the rate that many homeowners received from lenders years ago).
As you can see, over the life of your mortgage, you could save more than $150,000. That’s just by lowering your “already good” rate of 6.75% to an even lower 3.25%.
Acting now could lower your payment and shorten your term significantly. There’s no downside to checking out the this once-in-a-lifetime “break” for the middle-class.
How do you find the lowest possible rates?
The trick to finding the lowest rate is to utilize free websites that will compare available mortgage rates for consumers, allowing them to choose the best one. Our research found that RateMarketplace, one of the country’s largest and most respected refinance comparison websites, is one of the few companies with HARP lenders on its network. The good news is that their services are free to homeowners like you.
There’s no obligation to homeowners, and RateMarketplace offers easy and fast comparisons. It takes about five minutes, and the service is 100% free. You have nothing to lose, except for your money problems!
Act now, and you could save thousands.