Are you Paying Too Much for Your Mortgage?
Whether you are shopping for a mortgage or looking to refinance your current mortgage, here are 5 signs you’re paying too much for your mortgage:
- Current Interest Rates Have Dropped
- Your Credit Rating Has Improved
- Your Household Income Has Decreased
- You’re Paying Mortgage Insurance
- You’re Loan Term is Too Short or Too Long
Apply Now with a licensed Loan Officer today to get a FREE and no-obligation review to ensure you’re not paying too much for a mortgage.
Apply Now3 Elements That Make Up a Mortgage
1. Interest Rate
The interest rate is the amount of interest you will pay over the term of the loan. If your current interest rate is too high, you might be paying too much for your mortgage.
2. Loan Term
The term of a mortgage loan is measured in length, such as 15 or 30 years. The shorter the term, typically the lower the interest rate, which can save you money over the life of your mortgage.
3. Closing Costs
Closing costs are generally fees associated with the mortgage process, such as credit reports, appraisal, and title fees. These fees can add to the overall cost of your mortgage.
Looking for help with your mortgage
Approved Mortgage is here to help make the home-buying process stress free by shopping for the best rates and finding the right program for you.
About us.
Approved Mortgage has helped thousands of homeowners improve their credit scores and obtain approvals when they didn't think possible. We’ve simplified the process of shopping for a mortgage and finding the best home loan option for your needs. Our Mortgage Advisors are ready to help guide you along the way.
