Fixed-Vs-Variable-Chart 25yrs | mortgagesbycraig.com

Happiness Tip:One of the biggest mistakes homeowners make with their mortgage is waiting too long to address their maturity or mortgage renewal. Waiting 3 weeks before maturity is too late!! It’s not uncommon for borrowers to pay 0.50% more in interest than they would have 3 months prior. On a $400,000 mortgage this equates to approximately $2,000 per year($10,000 in 5 years) of savings the borrower leaves on the table.Most lenders will guarantee financing up to 120 days (4 months) before maturity. By addressing your mortgage 4 months before the big day you can protect yourself from any future rate adjustments. If rates go up you’re protected. If rates go down we go back to the lender and obtain a rate reduction. Borrower wins in both cases! This is one example of how we create happiness. ... See MoreSee Less