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Brendan Fontaine's Blog

By Brendan Fontaine | Mortgage Broker
or Lender in Auburn, ME

So mortgage rates took a turn for the worse. I say WHO CARES AND HERE’S WHY!

You cannot escape the headlines.  Over the past two weeks, mortgage rates have in fact climbed to the highest levels since pre-2012.  On average, mortgage rates have risen .5% over the past 2 weeks, meaning what was once a 3.5% is now a 4% for example.  The facts are what they are.  I am not worried about it and neither should you!

SO WHAT NOW?  Do you stop your new home search and concede to being a renter for the rest of your life, and give up your dream of home ownership and providing your family a home of your own?  

Or do you decide not to refinance your mortgage because you no longer see a benefit in refinancing your mortgage term or consolidating your high interest debt?  Let’s do the math together!

Let’s say for example you’re currently renting an apartment for $800.00 / month and looking to purchase a home for 100k.  Your mortgage payment with a current 4.5% rate is $517.00!  $283.00 less than you’re currently paying for rent!  And what about the massive tax benefits to owning a home?  Read; Tax Benefits of Home Ownership Are Almost Too Good to Be True

Or maybe you were considering refinancing your credit cards and a car loan into your home loan because your finally have equity, but now think it may not be a good idea?  I can promise you that OTHER THAN student loans, the rates on ALL of your other debts are higher than mortgage rates today.  

Consolidating high interest lines of credit into one fixed term with a rate that’s 75% lower than the others sounds GENIUS to me in this economy!  Who cares that you’re paying off car loan with just 2 years left on it with a new 30 year mortgage?  Just because you got a 30yr mortgage does not mean it needs to take you 30yrs to pay it off!

Call me to discuss bi-weekly mortgage paymentsand paying additional principal on your mortgage payment.  I can show you how to consolidate your debt and pay off your mortgage in 1/2 the time it would take you to pay them all off individually.

Yes, mortgage rates went up but I say WHO CARES!  There is more attractive housing inventory for buyers in 2013 than most years prior combined and housing valuations are finally improving meaningYES you finally have equity TO REFINANCE!

I am available 24/7 to speak with you about designing your personal home purchase or refinance options on207-602-1670 or you can send me an email;bfontaine@ghmc.com and we can plan a time to sit down and discuss your options!

I will see you at the closing table!

Brendan Fontaine
Branch Manager | Mortgage Banker
Guaranteed Home Mortgage Company, Inc. 
Office 207.602.1670 | Toll Free 888.512.4112 
Cell 207.370.5363 | Fax 207.510.7689 | NMLS 102571

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