You've heard over and over again that rates are the lowest they have ever been, right? Maybe you think that your current interest rate is not high enough to benefit from refinancing. The old standard of having to reduce the rate by 2% really doesn't apply if the monthly savings you will see by refinancing will offset any costs within a short period of time.

An article in the December 2011 issue of Kiplinger Personal Finance Magazine, Pat Mertz Esswein, Associate Editor says:

"If you already have a low-interest mortgage, you may not think it’s worth the effort to refinance. But the average 30-year fixed rate is hitting record lows of 4% or less. That means if you’re paying 5% or more, chances are you can save money -- assuming you stay in your home long enough to recoup the closing costs." Click here for the full article.

We couldn't agree more! Saving money by paying less interest over the life of your mortgage just makes sense, as long as you intend to own your home for the next few years. At Dragas Mortgage Company, we can assist you in finding the mortgage program that makes sense for you and for your financial goals, whether it's reducing your monthly payment, or shaving years off of the term of your loan. Contact us today to get started.