It’s time to refinance!
Why is it people will spend 30 minutes clipping coupons to save $10 on their grocery purchase but they won’t spend a couple of hours to save $10,000 or even more by refinancing their mortgage?
Right now almost everyone with a 30-year mortgage can benefit from refinancing. AmeriFund is offering refinances on the 30-year fixed-rate program at 3.375% with no lender fees. 15-year loans at rates as low as 2.5% with nominal costs.
For most borrowers there are no closing cost options available on that 30-year program with a rate of 3.625% or lower.
That can equate to savings of up to $25,000 over the next five to seven years for many borrowers. Even if you have a rate at 3.875% or 4% on an existing 30-year loan you can likely benefit from refinancing. For borrower with PMI you might be able to eliminate the PMI for added savings.
You can get a good feel for how much you can save by viewing our Refinance Savings Tables at this page on the website.
Or take just one minute to provide us a little information about the balance, payment and interest rate on your existing loan and we’ll email a Rate Reduction Analysis that show exactly how soon you’ll recover any closing costs incurred in a refinance and how much you’ll save over time by refinancing. Click the box below to input the information and send us the request. You can also view an example of the report below.