Lower Your Interest Rate

When it comes time to purchasing a mortgage or even refinancing an existing one, the goal of almost every home owner is to find a mortgage with the lowest interest rate available. Well you can stop your search! Nations Choice Mortgage has been named by the Wall Street Journal as the lending mortgage lender with the most competitive interest rates. We are here to help you and have the resources to make your next mortgage more affordable.

Homeowners across America have been always concerned about mortgage payments. Often the mortgage payment is the highest family expense which leads to a desire to decrease the payment. Whether it is financial troubles or just smart financial budgeting, families are always looking for a way to lower their mortgage payments. The good news is that consumers have more options today than ever before. With our mortgage recourses readably available online it is now possible for you to review and choose which mortgage programs best suites your needs. Now you can even search for current mortgage interest rates and begin the application process online today.

Finding the right program

Letís look at the two most popular scenarios that our customers are in when they want to lower their interest rate:

  • If you already have a home loan but you feel that your existing mortgage interest rate is too high then your best option is to refinance your existing mortgage to get a lower interest rate. This refinance option will allow you to adjust your mortgage terms and interest rates of the mortgage. This option is very common and surprisingly easy to complete. With the help of NationsChoice Mortgage we make the process simple and easier for our customers.
  • If you are looking to purchase a new home and want to have the lowest interest rate then NationsChoice Mortgage will be able to help you find the right mortgage program. Although the may options may be different that refinancing, the low rates and guarantees will remain the same

Below are a few of the most common options to consider when you are interested in lowering your interest rate. If you have any additional questions or donít see an option that you are interested in, please contact NationsChoice Mortgage to speak with one of their mortgage specialists.

Fixed Rate Mortgage

The fixed rate mortgage option is the most common mortgage option to consider. With this type of loan, the interest rate applied to your loan does not change throughout the entire term of your loan. That means if you were given 4% interest for a 30 year loan, the rates are kept the same no matter the fluctuations. This kind of loan can lower your mortgage payment in a sense that if you chanced on a low rate, you can enjoy that rate no matter what happens to inflation rates.

Adjustable Rate Mortgage

Adjustable rate mortgages differ from the Fixed Rate Mortgage because the rates fluctuate within the term of your loan. The rates vary based on an index and so the rates could go up or down depending on several economic factors. With ARM, most lenders offer lower initial rates. If you want to lower your mortgage payment, you can expect that the first few months or years will be lower since the rates offered in ARM are lower than the fixed mortgage. This means that over a longer time period, you can have lower interest rates. Although an ARM has its benefits you need to consider that the interest rates could rise and increase your mortgage payment. Be cautious when looking into ARM loans and make sure that are prepared to handle any additional burden that might occur due to unforeseen and uncontrollable economic market conditions. If you see the interest rates beginning to rise or feel that it is time to convert from an adjustable rate mortgage to a fixed rate mortgage then you can refinance your mortgage and set the rate so it will not adjust.

Making Home Affordable Program (MHA)

The Making Home Affordable Program (MHA) was initiated to help US citizens avoid default and foreclosures of their homes. This is an ideal plan to consider if your mortgage is currently handled and guarantee by Fannie Mae or Freddie Mac. There are numerous programs available under the MHA program but you have to assess your current mortgage condition to find the best rates possible. If you currently have an ARM, you can apply on the fixed rate plan as long as the fixed rate that you can get is lower than your ARM. If you are under the interest only mortgage payment, a fixed rate might also be ideal because it could lower your monthly payments considerably. The Making Home Affordable Program is ideal only in reducing the interest rates. If your goal is to reduce the principal amount to lower your mortgage payment then this will not be the correct solution.

Rural Development Pilot Program

The US economy was badly affected by a series of financial issues in the past decade. Although the market is recovering swiftly, some states are not as quick to recover. The Rural Development Pilot program was designed to help 19 states that were most affected by the downturn of the US housing market. According to the USDA, the program aims to benefit a great percentage of individuals in 19 US states. In Florida alone, the program aims to support 20,000 homeowners. This is a streamlined refinancing program for those who have had a tough time making their mortgage payments and want a better payment strategy to recover from the market conditions.

Short term and long term options

Homeowners tend to have different goals when looking to lower interest rates. Most homeowners look forward to lower monthly mortgage payment costs and that means they refinance their mortgages for a much longer interest rate. Refinancing can help you adjust the payment structure on mortgages by getting lower rates and extended terms of payment. For those who might be having financial issues, this is probably a helpful strategy to lower overall payment costs. However, if you want to minimize your overall mortgage payments in the long term, you can also use refinancing strategies to payoff your mortgage sooner by opting for a shorter payment term. This means paying more each month. It may seem counterintuitive but it does benefit consumers in the long run since the overall interest rates paid are much lower than in a 30 year term.

Lowering Your Interest Rate Considerations

Before you consider refinancing your current mortgage, consider these important factors:

Compare and analyze your interest rates. Instead of simply looking at the rate changes for refinancing, analyze how much money you save over the duration of 1 to 5 years. If the rate change is 1%, that would be more meaningful if you have a loan of $300K compared to $100K. The same 1% change would also have a larger savings impact every year that the loan matures.

How long are you going to live in your home? There will be closing costs that you have to consider when you refinance. If you have no intention to stay in the home for more than 2 to 3 years then refinancing might not be able to provide promising results. This happens if the monthly savings on the remainder of the loan are not higher than the closing costs that you have to pay for.

Lower Your Interest Rate Conclusion

The options Nations Choice Mortgage has available to lower your interest rates are immense. We built our company on around this goal. Our options, services and programs have been enjoyed by many homeowners and will continue to be what makes NationsChoice Mortgage a lending lender. The question to refinance and lower your mortgage interest rate is easy to answer. Every homeowner understands the savings that can be taken advantage of and now more than ever is the ideal time to start the refinance process. Donít wait.. The industryís lowest rates wont get any lower. Every day that passes without locking your new low interest rate, is a day that you risk losing out on a lower mortgage payment with lower interest rates.

How to Lowering Your Interest Rate:

If you are looking to lower you mortgage interest rate, Nations Choice Mortgage can help you begin the process. Nations Choice Mortgage has a well-trained team of mortgage specialists that are always available to help you make the best decision with your mortgage-related needs. We understand that choosing the right type of mortgage is a big decision and we are always here to help you make an informed choice.

To begin applying for mortgage, all you need to do is search rates and you will receive a personalized interest rate quote. You can then choose the type of loan and interest rate which fits your needs. Your mortgage application can also be completed online using our advanced online mortgage application. If you have questions anytime during the online application process, feel free to contact us and we will provide you with all the information you need.

Instant Mortgage Rate Help

Loan Amount: How much do you want to borrow? Example: 150,000 (You can borrow up to 100% of the purchase price of your home. You will find better interest rates at 95%, 90%, and 80% progressively.)

Property Value: This is the purchase price of your property or your best estimate of the appraised value of the property. Example: 175,000.

Loan Type: Selecting Refinance WITH CASH OUT may increase your rate. If you want some extra cash to pay the closing costs on your new loan, this would NOT be considered receiving extra cash.

Escrow/Impounds: Allows you to pay 1/12 of your annual property taxes and homeowners insurance with your mortgage payment each month. Escrowing your taxes and insurance will lower your points by .25%

Property State: Specify the State where the property is located

Property County: Specify the County where the property is located

Todays Rates: These rates are based on the following criteria..

Instant Mortgage Rates

Loan Amount
Property Value
Loan Type
Loan Purpose  
Property Type
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