Rapper and comedian Timothy DeLaGhetto has been in the media for his $210,000 gift to his parents to cover the balance on their mortgage.
Most people will not have children in a position to give such a gift, but Timothy’s generosity brought other points to mind that are worthy of consideration.
Low Mortgage Rates Have Saved Americans Thousands
Low mortgage rates have given Americans the opportunity to buy homes with lower monthly payments than previous years, and helped Americans refinance existing mortgages saving hundreds of dollars every month.
Many Americans are also building equity in their homes more quickly, often as a result of refinancing. We recently reviewed 4 Ways to Save Money and Build Home Equity at a Faster Pace:
- Refinance From a 30-Year Mortgage to a Shorter Term.
- Get a Lower Interest Rate.
- Pay Your Mortgage More Quickly Without Refinancing.
- Stop Paying Mortgage Insurance.
Refinance Calculator
If you are interested in seeing whether you could save money by refinancing, check out this Refinance Calculator.
And if you are thinking about buying a home, these Mortgage Calculators will help you estimate the monthly payment.
You may also be interested in these articles:
- How Much Can I Afford for a Monthly Mortgage Payment?
- FHA Refinance | FHA Streamline Refinance, FHA Cash-Out Refinance
- How To Refinance Your Home Mortgage
- Should I Refinance My Home?
The Marimark Mortgage Newsletter will keep you informed with important events in the mortgage industry that could impact your finances.
We especially focus on ways to save money on your current and future mortgages. And, we continually share the information we share with our clients, because we believe informed consumers are the best consumers.
Real estate agents, and other professionals in the industry, will receive an ongoing wealth of information that will help them serve their clients.
