What Are Current Mortgage Rates
And Do They Really Matter?


The NLC Loans Five Year Rate Guarantee allows homeowners to save money on their mortgage today and take advantage of lower rates, should they come about, for five years following the closing of their loan. That’s right—if rates dip even lower at any point in the five years following your loan closing, you’ll be able to refinance at that lower rate and pay no lender origination fees or appraisal fees. There’s no better deal in the mortgage business. Learn More

Refinancing within the 60 month period is conditional on whether the program type or investor guidelines or Fannie Mae, Freddie Mac, and Ginnie Mae agency guidelines contain “seasoning” restrictions. Loan approval for any future refinancing is not guaranteed. You must fully qualify for the selected refinance and meet all of the requirements of the loan refinancing program and federal guidelines concerning your ability to repay. Additionally, the appraised value of your home for any future refinance is also not guaranteed. If an appraisal of the property is required to meet the conditions of your new loan, the value of the property must be acceptable for the program and loan terms requested. Moreover, the interest rate for all future refinance is not guaranteed. Borrower must qualify for the loan requested, and will be quoted the interest rates in effect at the time of the new refinance.


Your Loan Term

Home loan rates vary based on the length of loan term. Homeowners who are looking to refinance or buy new homes might be surprised to learn that the amount they pay monthly with a 30-year mortgage might be similar to the amount they pay with a 20 or 25-year loan because the interest rates are typically lower on loans with terms of less than 30 years. Knocking years off your mortgage payment will save you tens of thousands of dollars.

Your Debt

Choosing to refinance your home can revitalize your financial situation. If you find yourself bogged down with credit card debt, you might be able to pay it off and improve your credit score at the same time by using your mortgage as an investment tool.

Your Emergency Fund

Do you have enough cash in reserve to cover your family in the event of a financial emergency? You need six months of living expenses –minimum—to ensure that your life is not adversely affected in the event of a loss of income. You can use your equity as an insurance policy with a refinance from NLC.

Your Retirement Outlook

It takes a lot of money to save for retirement. How are you saving up? Your home’s equity is a great way to save for your future so that you can finally sit back and enjoy yourself without financial worry once you reach retirement age.

As a result of refinancing, your total finance charges may be greater over the life of the loan. Ask your NLC Loans Personal Mortgage Advisor for more details.