Kurt & Michelle Ziegler
412-203-3379

REFINANCING

So you want to refinance, but mortgage rates are rising. Don’t worry — you haven’t missed the boat on your refi opportunity. Mortgage rates are still historically low, and they aren’t expected to exceed 5% until the beginning of 2019, according to many economists and mortgage analysts.

Make your move fast- If you’re thinking about refinancing, now probably is the time to do it because rates are probably not going to be lower than they are right now.

It’s worth doing your research to see what rate you can get and then acting swiftly before it’s too late.
You’ll want to get your refinance application in as soon as possible, not only to catch low rates before they rise, but also to avoid a backup in refinance applications.

If you’re not ready to submit your application just yet, work on keeping your credit score up, have your financial documents ready to go. Just remember that rates are rising slowly but steadily.

Call Three Rivers Lending today!! 412-203-3379. We have 23 years experience and we would love the opportunity to answer any questions you may have
We treat EVERYONE like family!!!

Acting fast on a refinance may not be worth it if your credit score isn’t in top shape. Your credit score plays a big part in the rate you can get on a mortgage. Just because low rates are out there doesn’t mean you’ll qualify for them. Your credit can be easily bolstered. We have helped people with credit scores go from the 500s up to the 700s in about three months from rapid rescores and “fixing” their credit report.

Some ways that you can work on your credit include checking your credit report for errors, paying your bills on time and keeping a safe distance from your credit limit. Keeping your total credit usage to 30% of your total available credit is the best way to keep a good credit score.

Along with rates, home values are rising. Now might be a good opportunity for you to tap into your home’s equity through a cash-out refinance. Pay off those bills/loans, remodel that room you have always wanted to finish, pay cash for Christmas or take that vacation you have always wanted.
Refinancing into an adjustable-rate mortgage in a rising rate environment can make sense since these loans tend to come with lower initial interest rates than fixed mortgages. They’re especially useful if you plan on staying in your home no longer than the fixed term of the loan.