Why you might consider refinancing soon after buying a home

As you may have heard in the news, mortgage rates are plummeting, yet again.  Despite what has happened to the S&P United States credit rating many investors still feel like our bonds are a much safer investment than other places their money could be stored.  What does this mean for mortgages?  They realistically have hit one of their lowest points in history.  Check out what you can find with today's rates?

• 15 Year fixed loans as low as 3.5% with ZERO points*
• 30 Year Fixed loans as low as 4.0% with ZERO points*

What does this mean?  Not only is it the best time ever to buy, but if you have previously purchased a home in the last year and have a 4.75% or higher it is worth looking to see if you could save money by refinance.  There are even government programs for qualified individuals with credit scores as low as 620!!!  Please check out my website www.shawnkrumpe.com or contact me, Shawn Krumpe with PennyMac Loan Services at (916) 776-6484 for more details or if you have any questions.

*Rate examples are for conforming loans (< $417,000 and > $75,000) loans in California  with zero origination points, borrower FICO score of 740 or greater with a loan to value (LTV) of 75% or less on a single family owner-occupied residential property. Rates and APRs may vary depending on loan details including but not limited to points, loan amount, loan-to-value, borrower credit, income, expenses, property type, occupancy and geography.