Video transcript
Hello everyone, this is Mario Cardenas i’m a loan officer for Affinity home lending. I hope you’re doing well you’re staying safe out there so the mortgage topic of the day is interest rates and specifically the trend of interest rates over the last three years so if we rewind to about three years ago interest rates were as high as five percent for a 30-year fix so if we fast forward to present day the average fixed 30-year is about 2.96% so there obviously are some big savings if you bought a house a few years ago with a higher interest rate it is a no-brainer if you’re going to stay in the house for you know at least a few more years or so to at least explore your options about capitalizing on a lower interest rate and another thing too many people are worried when they get a refund that they’ll actually reset back to a 30-year fixed loan and that may be true for some lenders but affinity home lending we have the ability to custom structure our loans also say that you bought a loan five years ago we could actually refi that loan to be a 25 year or maybe your income went up and you want to spend less money on interest over the course of the loan if the Fannie Mae guidelines allow it we could actually lower the loan to maybe like a 15 year or even a 10 year so there are tons of options to explore everyone’s situation is completely different and that’s why it’s good to connect with the loan officer to at least explore your options so feel free to visit mariocardenas.net on the bottom of the screen there or to give me a call at 678-920-2747 have a great day
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