Should you Refinance your FHA Mortgage now?

A simple way to know if Refinancing is worthwhile...

The first question to ask yourself is, "How much money can I save each month?" A good general rule of thumb is if you can reduce your payment by $100 or more each month, it is time to look into refinancing. If your current Interest Rate on your FHA Mortgage is 5.50% or higher, you should be calling us right now, before Interest Rates start to rise again!

This is especially true if you currently have an Adjustable Rate Mortgage. You should refinance into a 30 or 15 year fixed loan while rates are still low and before your current FHA ARM Loan starts to adjust! Chances are that you will be able to save money and take away the worry of rising payments!

Refinancing your current FHA Mortgage is an easier process than it is for many Conventional (non-Government) loans. Call our Mortgage Professionals at Valley West Mortgage today and we can help you determine if you should begin the application process. 1-(888) 931-0007

Rates Drop below 5%

Financial turmoil in Europe is bringing our rates back near 50-year lows. At the end of the Federal Reserve's $1.25 trillion mortgage-securities purchase program the housing industry had been expecting mortgage rates to raise. Instead, many in the mortgage industry now say that rates can decrease to as low as 4.86% now, instead of raising to 6% as economists projected, allowing for lower payments for purchasing homes or refinancing mortgages.

Economists are saying that the decline in mortgage rates is largely due to the debt crisis in Europe.

Lower rates means that there will be more people who can qualify for a mortgage and allow others to qualify for a slightly larger loan.

Interest Rates

Go to valleywestmortgage.com to view current rates for the up coming weekend.

A simple way to know if Refinancing is worthwhile...

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