If you have not refinanced in the past few years it may be the swan song for the unprecedented low interest rates.
Relative to long term history they are still very low, but they are creeping up with little hope for further reductions. With economic factors all improving it is only a matter of time before the powers that be will be raising rates soon and significantly.
Appraisal values have rebounded enough that people who did not have enough equity previously can now qualify for the loan to value ratios. Refinancing at this time can have a huge impact on your long term financial picture. Lock in a lower rate for the long term or look for that extremely low rate to realize immediate spoils. A 1% drop in interest can reduce your monthly payment by up to 20%.
Home values in Sherman Oaks are increasing significantly and are predicted to do so for the next few years.
With my experience in the lending industry I have relationships with many reputable, honest and smart Loan Officers that can find you the best deal.
Call me, Blair Thompson at Wish Sotheby’s International Realty in Sherman Oaks to get pointed in the right direction. 818-414-4144