The decision to get an Oklahoma refinance loan is a big one. It may also be one of the best things a homeowner could do for their finances. Still many people wait so long to refinance that they miss out on a wonderful opportunity. Here are three reasons to quit sitting on the sidelines and refinance now:
Great Deals on Interest Rates
Though interest rates in Oklahoma are slightly higher than they were a year or two ago, they are still at a historical low. Current rates on 15-year loans and 30-years refinance loans in Oklahoma average 5.1 and 5.76 percent respectively. Refinancing now before rates get any higher could allow you to lock in at a fair interest rate that will provide you with immediate savings, as well as savings over the life of your mortgage loan.
Debt Can Be Overwhelming
If you are having debt issues, refinancing now before your debt gets too far out of control could be very beneficial. Taking advantage of an Oklahoma refinance loan could prove to be the path you need to take to get things turned around. Whether you are behind on your mortgage payments or struggling under high interest credit card debt, refinancing can get you out of your financial jam.
Use Equity to Your Advantage
Home values in Oklahoma have risen steadily over the last five years. With an Oklahoma refinance loan, you can get withdraw some of that equity and get cash at closing. Just think of the things your home could buy you—a college education, home improvements, a new car, a new business, the dream vacation you have always wanted to take…the list goes on and on.
Visit Oklahoma Lending Center to see our Top 3 Refinance Lenders Servicing Oklahoma , whether you are looking for home purchase, refinance or a home equity loan.