Mortgage rates have dropped. Should I refinance?

Mortgage rates in MN, WI, IA, ND, SD have dropped recently to their lowest level in sometime.  Mortgage company telephones, which had been fairly quiet the past few months are ringing like crazy as homeowner call to check mortgage rates, and decide should I refi or not?

Refinancing is most often used to lower your current interest rate.

If rates have dropped since you last financed your home, you may want to consider refinancing. Other common reasons to refinance include paying off a balloon payment, converting an adjustable rate loan to a fixed rate loan, or to take cash out. A few reasons for cashing out include: home improvement, an education fund, and consolidating debt.

Just imagine what you could do with an extra $100, $300 or more each and every month.

You might decide to apply the savings toward your balance and build equity faster. Or maybe you just might want to put the money in your savings account or portfolio and watch it GROW! The best thing is – you’re in control . You decide what is best for your family!

DROP PMI (Private Mortgage Insurance)

Many homes can take double advantage of today’s interest rates.  Obviously the lower mortgage rate, but many homes have also seen a significant increase in value. You may now have a loan-to-value lower than 80%, which means you can also drop your mortgage insurance, increasing the refinance savings even more!

In order to refinance your existing home, or to simply help you decide if refinancing makes sense, just call or click. A quick application tells us what we need to know, and let’s us “run the numbers”.

 MN, WI, SD – REFINANCE APPLICATION   (651) 552-3681

A standard refinance will require an application, appraisal, and a verification of your income and assets, as well as most of the same paperwork required when you originally financed your home. Adequate property insurance and new title insurance is necessary.


A streamline refinance is available for many home owners. As the name implies, the process is streamlined, and generally does NOT require an appraisal. Available for both existing FHA Loans, and VA loans.


A HARP refinance is for existing Fannie Mae or Freddie Mac loans, that were closed prior to June 1, 2009.  Usually no appraisal is required, and you could have lost some value, or even be significantly underwater on your existing loan and still be able to refinance.


  • Reduce Your Interest Rate
  • Cash Out Equity for Home Improvements
  • Consolidate Debt
  • Lower Monthly Payments

To Refinance You’ll Need: