by Jo-Anne LaBuda

I was reading More magazine and came upon an article by the popular financial writer, Jean Chatzky, which stated some simple things to remember regarding 
your money.

"Interest rates are going up," Chatzky said. "Now what?  Cheap money isn't going to last forever.  ... take advantage of today's record-low rates before they expire".

The following points are pertinent whether you live in Columbus, Ohio
or San Francisco, California.

Chatzky claims that almost 50 percent of people with a 30 year fixed rate mortage have an interest rate of 5.75 percent or higher.  If you plan to stay in your home longer than a few years now is the time to re-finance! 

If you lowered a $300,000 mortgage currently at 5.75 percent to 4.8 percent,
you could save more than $63,000 in interest over the life of the
loan.  Rates are available now that are even lower than that and many people have rates higher than 5.75 percent.

Also remember to ask your lender about loan modifications vs. re-finance.  This alone could save you money now and also accomplish a lower monthly payment.

We work with the best lenders in Columbus, Ohio and would be happy to
refer you to them so you can discuss your options. 

Interest rates are at an all time low and it is a great opportunity not only to purchase a home but also to look at your current mortgage rate and save money on your monthly payment.

Call us if you need assistance.  614-431-9111.