If you weren’t able to refinance your Minnesota mortgage in the past few years, fear not as mortgage interest rates are still historically low and this may be a great time to refinance into a low 30 year fixed rate.
There are a number of Minnesota home owners who should be considering refinancing their mortgages at this time and this could be you if you fall into on of the following three catagories;
- If you have an interest only or a negative amortization mortgage (option arm).
- If your credit score has gone up significantly since you got your last loan, and
- if you had an ARM that reset at 7% or above in the past year, or you have an ARM that will be resetting in the by the end of the year.
While Minnesota mortgage rates have gone up in the past few days, they will probably come down a bit in the next few days and settle in between 5.875 and 6.25%, which for most Minnesota home owners is still a great deal.
If you have any questions about your current minnesota mortgage and whether or not you should consider a refinance, feel free to call me, Ken Horst, at 612-251-8237.
If you looking for Minnesota homes for sale and would like to see over 24,000 homes for sale and local MLS listings in the Minneapolis metro area, visit www.mlsmaps.com
