top of page
Search

Locking in a Client at 2.87%

  • rpccarrigan
  • Sep 9, 2021
  • 2 min read

Last month I sent out an email letting you know that interest rates on a 30-year mortgage were available below 3%, and the interest rate available on a 15-year mortgage was available below 2.5%. While I want you to know interest rates are still low, this month I want to show you how easy our team makes it to refinance.


I had a client respond to last month’s email asking if it made sense to refinance. I ran the numbers for him and was able to lock in a rate of 2.875%, saving him $175 / month. Additionally, since property values in Illinois have appreciated a great deal over the past year, my client would no longer need to make a PMI payment.

What were the steps he took to refinance? He started by responding to my email. Since my team had most of his past documents on file, there were very few new forms needed to get the loan done. My client was able to securely send updates electronically, and we set up a closing date 30 days after he initially contacted me.


In case you didn't know, when you refinance there are a number of interesting options available to you. You add the first two months’ payments to the mortgage balance, meaning you could refinance in September and not make a payment until December. Since interest rates are so low, it is possible to do this while also lowering your monthly payments.

If you have any questions about refinancing, please do not hesitate to reach out to me. My team and I are here to help you every step of the way. Our goal is to help you make the best financial decisions for you and your family.

As always, thanks for trusting me with your business.

Ryan


 
 
 

Comments


white shamrock logo.png

Shamrock Home Mortgage is a full service mortgage brokerage company registered with the NMLS under #1680873.  Shamrock Home Mortgage has its home office in Aurora, IL as well as a satellite office in San Antonio, TX and is licensed to provide mortgage brokerage services. Illinois Residential Licensee 031.0008400, Texas 238717, NMLS # 238717

SERVICES

+ Home Purchase

+ Refinance

+ FHA Loan

+ VA Loan

+ Fixed Rate Loan

+ Adjustable Rate Loan

CONTACT

© 2021 Shamrock Home Mortgage. Created by M&M Digital Marketing

Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. a toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.
The Department of Financial and Professional Regulation (Department) evaluates our performance in meeting the financial services needs of this community, including the needs of low-income to moderate-income households. The Department takes this evaluation into account when deciding on certain applications submitted by us for approval by the Department. Your involvement is encouraged. You may obtain a copy of our evaluation. You may also submit signed, written comments about our performance in meeting community financial services needs to the Department.
bottom of page