Refinance your home now to save for the future

After a few years of settling into your new home, you’ll have hopefully built up some equity and along with it, (hopefully) good credit with regular on-time payments. For instance, if you purchased a home at $460,844 – the current California average according to Zillow – at a 4.83 percent, you’ll have a $2,335.03 per month mortgage. Would you like to keep paying that amount per month or lower your payment? Consider refinancing your home to keep more of your money each month! Here are some reasons why you should refinance as soon as possible.

Take advantage of low rates before a predicted increase

According to Bankrate, refinance rates in California are just above four percent as of the last full week of February 2017. This is down from a high of 4.54 percent in December 2013, according to Bankrate. The low rates mean you’ll be taking advantage of borrowing money with the confidence that you’re getting a great rate.

Lower your interest rate based on your good credit

Has your credit score improved since you funded your original mortgage? Has your income increased? You may qualify for a better loan with a lower interest rate, which are at all-time lows. Use our refinance interest savings calculator on our website to see how much you can save.

Switch to a local lender that is active in the community

The big banks probably have branches in your town, but they don’t have the connections in the community that a local financial institution, like Travis Credit Union, has. Not only do we have a high concentration of members in our service areas, but we’ve helped countless people Turn to Travis for Real Estate loans, auto financing, savings, retirement and free checking accounts.

So what are you waiting for? Ready to see if you can qualify for a refinance through Travis Credit Union? Visit a branch, our Refinance website or call our Real Estate Lending department at (888) 698-0000 to start your refi application today!

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