It’s no secret – applying for, and getting, a mortgage can be a huge headache! Once PA horse farm owners secure one, most don’t desire to go through the process all over again. But those property owners who decline to refinance can be missing out on huge financial gains.
Mortgage rates are still at an all-time low, and owners of PA horse properties can reap the benefits of refinancing. According to an article on Realtor.com, homeowners can stand to save a whopping $45,000 on mortgage payments over the course of their loan by refinancing!
Should You Refinance Your PA Horse Farm?
With gains that big, it pays to at least research your options when it comes to refinancing the mortgage on your PA horse farm. Which begs the question – is refinancing right for you? You might consider refinancing if:
You can get a mortgage with a lower interest rate than what you’re currently paying. Interest rates are lower today than they were a year ago, and a refinance can help you take advantage of a smaller interest payment.
You have two different mortgages you’d like to consolidate. Refinancing can allow you to make one payment instead of two.
In some cases, refinancing your mortgage can eliminate PMI payments.
As with any large financial decision, do your research before taking the plunge of refinancing your mortgage. Spend the time to research interest rates, comparison-shop among lenders, and be sure you’re aware of closing costs and other added expenses.
Refinancing may be a long, arduous process, but it’s one that can greatly benefit owners of PA horse farms. If you’ve been thinking about refinancing, talk to a mortgage professional today to see if it’s the right choice for you.
Eastern PA Horse Property Specialists – Call Us Today! ( 610) 849-1790
Our extensive knowledge of the eastern PA horse properties for sale market allows us to guide our clients intelligently. Whether you are looking to buy, sell or invest, we have one mission – to provide you with exceptional customer service throughout the entire transaction. We assist buyers and sellers within the following eastern Pennsylvania counties:
- Berks County PA equestrian properties
- Bucks County PA equestrian properties
- Carbon County PA equestrian properties
- Chester County PA equestrian properties
- Lehigh County PA equestrian properties
- Northampton PA equestrian properties
- Poconos PA equestrian properties
- Schulykill PA equestrian properties
For sellers, we also offer property evaluations and have acquired the knowledge over the years of how to effectively perform an accurate market analysis of PA horse farms for sale, general farms and PA back yard horse properties. Please give us a call today or fill out our online contact form and let us know how we can best assist you with your eastern PA horse property real estate needs!
Cindy Stys, Broker/owner
The Premier Equine Realty Firm Serving Eastern PA
720 Smith Hill Rd
Stroudsburg, PA 18360