What's Going On?

What's Going On?

 

“What’s Going On?” is a new feature for the Miners Bank web site. It is opinion oriented and will raise questions related to the banking industry and our customer base. We invite your feedback and comments.

 

George Groves

President & CEO

The Miners Bank 

 

 

Go Back

Have you looked at your mortgage lately?

What’s Going On? 

Have you looked at your mortgage lately?

The mortgage market will not soon return to the crazy days of the mid 2000’s in which neither jobs nor income were required to get a mortgage from some providers. We won’t see that again!

But, if your income can be proved and you have down payment capability, your mortgage options are very attractive. A 20 year, zero point portfolio loan has an interest rate of 4.9%. A saleable loan for 15 years and no points can be found for 3.75%. Call your Miners Bank branch manager for specifics. The point is you can benefit to purchase a residence or refinance an existing mortgage due to the historically low rates.  Whatever your situation, if you are creditworthy, it may well pay to examine your existing mortgage.

We also learned during this economic cycle that ownership may not be best for all. But… if you want to own or upgrade, the housing market is full of bargains. Combine that with attractive mortgages, it is a good time to be in the buyers’ market.

Check it out—that’s what’s going on.

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