If you’re a Utah homeowner, there are a couple of market forces that have collided that may affect you. Many of our clients are taking advantage of it, and it may just help you too.
#1 Home prices are through the roof
First thing is prices of homes are through the roof. They are sky high. If you bought your home in the last two years it’s value has probably gone up quite a bit.
#2 Interest Rates
The second is interest rates. Despite inflation interest rates have remained at record lows. Now this is quite rare—when home prices go up, mortgage rates typically go up with them. This means that many Utah homeowners are sitting on a pile of equity that can be tapped at some of the lowest prices in mortgage history.
Now, you want to make sure that the new loan structure is set up correctly. There’s a combination between appraisal value, credit score, the amount of cash you want to get that factors together. If you put them together just right, you’ll get the very best bang for the buck. You will get the best pricing, the best costs, and the best setup just for you. One of the great things about a cash-out refinance is that if you have closing fees, they can be rolled into the loan. So you’ll want to structure that correctly.
Worried about rolling a short-term debt into a long-term debt?
There’s one more trick that we are deploying in behalf of our clients. And that is a custom loan repayment where it actually slices off more interest. So if you’re concerned about rolling a short term debt into a long term debt and paying more interest over time, we’ve got a great solution for that.
But here’s the thing- the time to start running through the numbers and looking at the loan structure is right now, because inflation very well could drive interest rates up.
So you’ll want to start a conversation with our team that specializes in these equity loans to help you get where you need to be. There’s no obligation.
We will cheerfully run through numbers with you. And that’s another great thing- because we’re mortgage brokers, we work in the wholesale market and we get incentives all the time that we pass on to you to help you get an even better deal.
That’s what we really want in the end- we really want you to get an amazing deal on your mortgage, on your money and have your loan structure set up perfectly for your lifestyle. So give us a call today and let’s get started!
Ready to get your Sweet Mortgage Deal? It’s easy…
About Post Author
