House photo

There seems to be a common misconception out there from financial gurus that refinancing your home, under any circumstance, is a bad idea.  However, what these TV “talking heads” fail to realize is, that is just not practical.

Financial pundits will tell you refinancing your mortgage means you have to start all over again.  While that may be true, the “cost of money” is a very real thing! You are not digging a deeper hole, in fact, you are most likely lifting yourself out of one!

There are many factors to consider in a refinance of a mortgage.  Let’s consider a few questions:

  • Have you been making payments on a current credit card or credit cards only to see the balance stay the same or increase?
  • Have you recently or within the last 18 months did balance transfers from multiple credit cards to one?
  • Do you have a home equity line of credit or a home equity installment loan?
  • Do you have more than 2 years remaining on student loans?
  • Do you have multiple no payments finance deals getting ready to expire in 12 months?
  • Do you expect to move in the next 16 months?
  • Is this your “forever” home?

Now, did you answer yes to 3 of any of the above questions?  If so, then let’s talk about a refinance.  Before we do, let’s talk about the appreciation of your home.  Most homes in the United States appreciate in value year over year.  In fact, the nationwide average is 3% to 5% yearly.  This is a conservative estimate, especially in today’s real estate market.

If you have been in your home for 2 years now, let’s consider a scenario:

  1. The value of your home in August 2018 was $300,000.
  2. The value of your home (as an estimate) in March 2021 is approximately $340,750.
  3. You have built equity and that has nothing to do with your mortgage.  In essence, you are $40,000 to the plus!  You won’t be going backward.

Now let’s consider debt:

  1. $15,000 in credit card debt: average monthly payment is approximately $450.00 per month.
  2. $45,000 in student loan debt: the average monthly payment is $460.00.
  3. $275,000 mortgage payment for principal and interest and is approximately $1196.00 monthly.

Just these three above items total to $2100.00.  Plus, $910.00 per month may not be tax deductible.  However, for this post, let’s not complicate that calculation.

If you refinanced right now at today’s current rate, assuming good credit: $1,383.00  Your savings in real money is almost $850.00 per month! This is over $10,000 a year of real cash in your pocket.

Let us be clear, this is not an offer for a mortgage.  The calculations above are for illustration purposes only.  A mortgage professional will assist in helping you understand rates, terms, credit scenarios, and appraisals.  However, with that being said: are you starting over?

Imagine what your finances would like with an additional infusion of cash at a level of $600, $800 or $1000 dollars monthly!  It would be significant and would have an impact. You are not starting over.  In fact, in doing a refinance the proper way, you will be light years ahead in debt, savings, and the elimination of massive interest charges.  It’s time to meet with a mortgage pro!

Refinance your mortgage

If you run your own business (25% or more), are a gig worker or a independent contractor — and you want to refinance, it could be more challenging for you to secure financing. It can be harder to prove how much income you have without a steady paycheck or W-2. That’s why most lenders have stricter rules for self-employed borrowers.

Is it difficult to get a mortgage when self-employed?

It’s a common misconception that it’s always more difficult for self-employed applicants to get a loan than regular salaried or hourly workers with a W-2 from their employer.

In all cases, the basic criteria to get approved are the same: You need to have a good credit history, sufficient liquid available assets and a history of stable employment.

Challenges can crop up, however, if you’ve only been working for yourself for a short time or make less money than lenders prefer.  Self-employed borrowers often take full advantage of the legal tax deductions and write-offs that are allowed by the IRS; unfortunately, this means that they often show a low net income — or even a loss — on their tax returns. That can make it tougher to qualify for a mortgage. You need to work closely with your CPA to ensure he or she knows you are looking to refinance your mortgage.  That you need to have tax returns and financial statements that show the strength of your income and business.

The self-employed mortgage has been changing.  Before the 2008 housing crisis, this would’ve been less of a problem. Loans that required no documentation or stated income were readily available to borrowers. Today, lenders scrutinize income and other qualifications more thoroughly, particularly in the last number of months due to the coronavirus downturn. This means documentation is king!

Here is where you are focused:

  • Two years of federal income tax returns (personal and business).
  • Recent business bank statements.
  • A year-to-date profit-and-loss statement that shows revenues, expenses and net income.
  • A copy of your business license.
  • A letter from a CPA verifying that you’ve been in business for at least two years.
  • Your credit score and credit history, focusing on ensuring this is tight and right.
  • Always make sure you separate business and personal expenses.
  • In preparing for a refinance, steer clear of expensive business loans you personally guarantee. IE. Kabbage or receivable financing companies.

Work with an experienced loan officer who understands self-employed business records and documentation.  This person can help you present your business earnings and liabilities in a clear and understandable way that facilitates the approval process.

Close up hand of man signing signature loan document to home ownership. Mortgage and real estate property investment

Mortgage rates are around record lows. However, rates are starting to move upward.  That news may have you asking yourself if it is time to refinance your current mortgage? Is it time for you to refinance your home loan? The decision is not a simple slam dunk. Here are three questions to ask yourself first:

1. How long do you intend to be in your home?

Refinancing your mortgage costs money.  If you are planning to move in the next three years, the savings may be minimal. You may not live in your home long enough to cover the costs of getting the new loan. Instead, focus on getting in the best shape financially through paying bills on time, keeping other debt low and saving for the transition.  If you are going to be there for over 3 years, the cost makes sense both in the short and long term.  However, a financial plan to look at your overall financial picture should be in order.  Focus less on the cost to refinance, focus more on the improvement you could be making in eliminating credit card debt and other high rate bills!

2. Where does your mortgage stand now?   

Beyond your current Interest rate, consider your principal balance, payment amount and the time left on your loan. If your principal balance is low, you may not gain from a lower interest rate because most of your monthly payment is going to paying down the principal, not toward interest.

In the scenario above however, in taking advantage of a refinance you could pay off your home exponentially faster!  Lower rate, and converting your 30 year term to a 10 may make both short and loan term sense.


If your interest rate is significantly higher than what you’d get through refinancing — say 4% or 5 % — then a lower rate may save you money.

3. Do you have the money, time and credit history to refinance?

Closing costs are an integral part of the mortgage process. They are due when you finalize or “close” your loan. These fees include the mortgage application fee, appraisal, attorney’s fee, title insurance and other charges. Closing fees vary by state, loan type and mortgage lender, but the average cost of refinancing is around $5,000 (varies on lenders program).  Run the numbers to see.

Refinancing is time-consuming. At the very least, you need to share up to three years of taxes, a current pay stub and a net worth statement. A mortgage provider may request even more paperwork. 

You need a good credit score. This may not be the year for you to refinance, even with low rates. The past year has wreaked havoc on many people’s finances. If your debt is high versus your income or you have been late with payments due to the pandemic, you may not qualify for the great rates. Get your financial house in order and then apply for a new mortgage. 

These 3 questions should be leading to look at your entire financial picture.  When we look at our picture, it should lead us to set real, tangible goals.  You should ultimately be asking, what does my financial picture look like at the end of the mortgage?  That is a question that needs to be answered today!

Mortgage Rates

A brutal winter is winding down, and spring homebuying season is approaching. How are mortgage rates shaping up for this month? After steep increases in February, housing economists also see rates ticking higher in the weeks ahead.

One expert who isn’t optimistic about reduced rates in the short term is Lawrence Yun, chief economist for the National Association of Realtors in Washington, D.C. “Mortgage rates will be higher in March. The prospect for economic recovery is strengthening and thereby lessening the hold on safe U.S. Treasury yields,” he says. “In addition, more stimulus and the accompanying higher national debt will place upward pressure on inflation. Consequently, long-term interest rates, including the benchmark 30-year fixed rate, will be rising.”

Yun envisions that benchmark rate averaging 3 percent in March before creeping up to 3.2 percent by summer and hitting 3.5 percent a year from now.

Daryl Fairweather, chief economist for Seattle-based Redfin, concurs with that forecast.

Mortgage rates have started to rise in the last few weeks. They will likely stay just above 3 percent through the end of March,” she predicts.

Mortgage rates are expected to inch higher on increased optimism about the economic recovery as well as continued concern about inflation in the near future.

Looking 1 month from now!

The good news, according to Fairweather, is that rates should hover in the low 3 percent range for the rest of 2021. Put that in historical perspective, and it’s easy to conclude that this is still a desirable outcome for borrowers. The bad news?

“It seems like the days of record-low rates are over for now, although it’s hard to know exactly what will happen for the rest of the year,” she says. “But I don’t think rates will grow past what they were pre-pandemic – 3.5 percent to 4 percent – anytime soon, if at all. The Fed has committed to keeping its target rate for federal funds at zero, and it will probably stay that way for a long time as part of their plan to maintain a healthy economic recovery.”

Curious what leading industry organizations prognosticate? In its most recent mortgage finance forecast, the Mortgage Bankers Association foresees the 30-year fixed mortgage rate averaging 3.4 percent across 2021. By contrast, Fannie Mae and Freddie Mac, respectively, expect rate averages of 2.8 percent and 2.9 percent.

So What Does this Mean?

If you are settled into your forever home, have little to no consumer debt., no worries about college tuition, about your employment status, AND you have perfect credit…your days of a 2% mortgage are behind you.  However, for the rest of the homeowners out there…

The average household credit card debt sits at $31,000.  Consumer spending is rising, and so are the values of properties all across the nation.  The time for you to take action and save real money and time still exists.  In fact, when we speak of interest rates, they are of zero concern.  Why?  Simple, consider this:  If the bank any bank — wants to give you a specific interest rate, is it in your best interest?  Most likely not.  That is why it is critical to have a financial partner in place, that will walk you through your financial objectives.  What your mortgage can do for you.  Rates rising?  Does it matter?  Let’s talk about it!

Table with wooden houses, calculator, coins, magnifying glass with the word Loan agreement. The contract for the purchase of a house or apartment on credit. Loan for property and real estate. Flat lay

The origin of words can be fascinating and at times ominous. That is why the word mortgage is intriguing! 

“Word nerds will notice an eerie root word in ‘mortgage’ — ‘mort,’ or ‘death,’” Weller writes. “The term comes from Old French, and Latin before that, to literally mean ‘death pledge.’”

For many US homeowners that is the case.  They believe that getting a mortgage, something that they are pledging 29% or more of their gross monthly income, is a life sentence.  At we look at things a bit differently.  We ask a simple question:

“What does the end of your loan look like?”

Smart money homeowners are asking this question.  Why?  Simple: a mortgage is not a means to an end in terms of homeownership, it is a vehicle in which to achieve financial goals.  So, what does the end of your loan look like?

In the current economic environment, people are looking at the cost of money and their financial picture a bit differently:

  • Does it make sense to refinance and add tax-deductible years to your mortgage to pay off debt to maximize cash flow?
  • Is it time to trim off 15+ years off your mortgage, because the current rate environment allows you to refinance to a 15 year or 10 year loan?
  • Is it time to refinance to ensure you have liquidity for college tuition?
  • Want to start a business?  If you can get a business loan, they typically range 10%+. Use your most important asset (your home) to your advantage.

Take scenario one as an example:  What if in 5, 10, 15 years you could receive a 30% increase in your income?  What would that do for you or your family?  What could that do for retirement?  When you no longer have to pledge a huge amount of your monthly income to a mortgage, cash flow increases 10 fold!

You are NOT pleading until death 30% of your money to a mortgage company or bank.  The end of your loan is within your sight.  Today’s rates are allowing you to see the future, and it could be mortgage free!

Let’s have a conversation today about what the end of your loan will look like:


The decision to refinance your home depends on many factors, including the length of time you plan to live there, current interest rates, and how long it will take to recoup your closing costs. In some cases, refinancing is a wise decision. In others, it may not be worth it financially.

Because you already own the property, refinancing likely would be easier than securing a loan as a first-time buyer. Also, if you have owned your property or house for a long time and built up significant equity, that will make refinancing easier. However, if tapping that equity or consolidating debt is your reason for a refi, keep in mind that doing so can increase the number of years that you will owe on your mortgage—not the smartest of financial moves. 

Reasons to Refinance

So when does it make sense to refinance? The typical should-I-refinance-my-mortgage rule of thumb is that if you can reduce your current interest rate by 1% or more, it might make sense because of the money you’ll save. Refinancing to a lower interest rate also allows you to build equity in your home more quickly. If interest rates have dropped low enough, it might be possible to refinance to shorten the loan term—say, from a 30-year to a 15-year fixed-rate mortgage—without changing the monthly payment by much.

Consider How Long You Plan to Stay in Your Home

In deciding whether or not to refinance, you’ll want to calculate what your monthly savings will be when the refinance is complete. Let’s say, for example, that you have a 30-year mortgage loan for $200,000. When you first assumed the loan, your interest rate was fixed at 6.5%, and your monthly payment was $1,257. If interest rates fall to 5.5% fixed, this could reduce your monthly payment to $1,130—a savings of $127 per month, or $1,524 annually.

Your lender can calculate your total closing costs for the refinance should you decide to proceed. If your costs amount to approximately $2,300, you can divide that figure by your savings to determine your break-even point—in this case, the home for two years or longer, refinancing would make sense one-and-a-half years in the home [$2,300 ÷ $1,524 = 1.5]. If you plan to stay in the home for two years or longer, refinancing would make sense.

If you want to refinance with less than a 1% reduction, say 0.5%, the picture changes. Using the same example, your monthly payment would be reduced to $1,194, a savings of $63 per month, or $756 annually [$2,300 ÷ $756 = 3.0], so you would have to stay in the home for three years. If your closing costs were higher, say $4,000, that period would jump to nearly five-and-a-half years.

Consider Private Mortgage Insurance (PMI)

During periods when home values decline, many homes are appraised for much less than they had been appraised in the past. If this is the case when you are considering refinancing, the lower valuation of your home may mean that you now lack sufficient equity to satisfy a 20% down payment on the new mortgage.

To refinance, you will be required to provide a larger cash deposit than you had expected, or you may need to carry PMI, which will ultimately increase your monthly payment. It could mean that, even with a drop in interest rates, your real savings might not amount to much.

Conversely, a refinance that will remove your PMI would save you money and might be worth doing for that reason alone. If your house has 20% or more equity, you will not need to pay PMI unless you have an FHA mortgage loan or you are considered a high-risk borrower. If you currently pay PMI, have at least 20% equity, and your current lender will not remove the PMI, you should refinance.


This is the number 1 reason to refinance a mortgage for many homeowners!  Look at these shocking numbers across the boards:

Americans may have a love-hate relationship with their credit cards, but that’s not preventing them from piling on debt.

The country’s outstanding credit card and other types of revolving debt have jumped almost 20% from a decade ago, reaching an all-time high of about $1.1 trillion, according to a recent study from CompareCards.

The average balance on a credit card is now almost $6,200, and the typical American holds four credit cards, according to the credit bureau Experian. Credit card issuers are also giving Americans more room to run up debt, boosting the typical credit limit by 20% over the last decade to $31,000.

If this is you, this is the very reason to consolidate and get rid of this debt.  You must be proactive in the process, not reactive in the debt process.  The cycle above will never end on its own.  No job, no stimulus, no bonus will shed the average amount of debt above.  However, your home can.  Interest will go up, not down.  There is no more down.  We cannot get lower than we have been.  The window to become financially stable is open right now for you.



Being an Airbnb host or VRBO host is no longer abnormal. In fact, it is the new normal for many property owners.  When you are a host with such a service, there are some hidden benefits beyond their platform that you might have never known about.

Now, the income from your short-term rental can be used if you’re looking to qualify for a refinance of your second home and/or rental properties. We also go over the ways a couple of the major home rental platforms work.

Using Short-Term Rental Income To Refinance

Short-term rental income has posed a challenge in the past when it came to using it for mortgage qualification because you don’t have a lease agreement. That’s changed with services like Airbnb, HomeAway®, and VRBO™ because they keep a record of each time your property is rented out. Now, all major conventional mortgage investors accept this short-term rental income.  Their recording keeping has helped more property owners get the favorable financing they deserve!

As a good entrepreneur, the more you can document, the better.  Recordkeeping is not only paramount for taxes, but it is also for financing as well!  In order to qualify for short-term rental income, records like the payout history and income or host report are necessary. You will need records for at least the last year, but having 2 years’ worth of records is helpful.

If you’re using short-term rental income to qualify, up to the last 2 years worth of tax returns will be helpful in terms of documentation. The returns should include Schedule C or E, depending on how the income is reported.  There is always a balance between reporting income and deductions.  Be sure you are able to leverage the income you make.  Not every write-off is a good write-off. Having the ability to refinance and solid financial records are worth more than just maximizing a deduction.

The major conventional mortgage investors Fannie Mae and Freddie Mac have different requirements, but below are some things you should expect.

You may need a certain number of months worth of mortgage payments so you can show that you’ll be able to cover your mortgage payment in the event of a short-term loss of income or another event that adversely impacts your finances (COVID-19). If you click on the link to the left, you will see a report that Forbes did on the effect of COVID-19 and Airbnb properties.  Why is this important? If Forbes knows it, banks know it.  Your business will be held to a different standard.  Documentation, financial reserves are your friends.

The requirements vary, but 2 months with the principal payment, interest, property taxes, homeowners insurance, and homeowners association dues (if applicable) is a good starting point.

You can refinance primary properties with up to four units as well as second homes. Depending on the investor in the mortgage, you may need to have a certain amount of existing equity, but one of our Home Loan Experts will help you find the right option for you.


FHA Mortgage Insurance Might Get Cheaper This Year

Many insiders are confidently predicting a big cut in the Federal Housing Administration’s (FHA’s) annual mortgage insurance rates.

FHA borrowers currently pay 0.85% annually in mortgage insurance premiums (MIP). That’s $1,700 per year, or $140 per month, on a $200,000 mortgage.

So it’s no wonder a possible MIP rate cut is big news. It could help new home buyers and refinancing homeowners save big on their housing payments. Real dollars in your pocket savings, prior to any debt consolidation in your refinance!

What an MIP Reduction Could Mean For You 

There’s good news and bad news.

The bad news is that if you already have an FHA loan if and when the reduction takes effect, you won’t see any savings. You would have to refinance into a new FHA loan to see the reduction.

The good news is that if you haven’t applied for an FHA loan yet if/when the cut is announced, you can likely take advantage of the new, lower fees.

But just how much would home buyers and refinancers stand to save? A 25-basis-point reduction means MIP rates would fall by 0.25%. So, you’d be paying 0.6% of your loan balance each year instead of the 0.85% that nearly all FHA borrowers now pay now. These mortgage insurance rates are calculated annually but charged monthly.

Example: 0.25% MIP rate cut

Let’s say you plan to borrow $200,000 with an FHA loan. Your MIP rate at current levels would be 0.85%, making an annual charge of $1,700 — or $140 per month.

Now let’s assume the new MIP rate falls to 0.6%.

Your annual charge tumbles to $1,200. And your new monthly MIP cost would be exactly $100 per month. That’s a saving of $500 a year, which few of us would sneeze at. But there’s a possibility that the savings could be even bigger!

Example: 0.50% MIP rate cut

American Banker wondered whether the Biden administration might “potentially go even further.”

So how does the math work if annual MIP rates were to be cut a little more — to 0.5%? Assuming the same $200,000 loan, a 0.5% rate would reduce the annual payment to $1,000. And that would make the monthly payment just $83 versus $140 per month at current levels. That would save you $700 a year over your current payment.

Refinance Considerations

If and when this occurs, how do you get the current FHA mortgage benefit? Simple, a full refinance.  In most cases, it’s time.  Rates, current financial conditions (debt), and the length you have had your current mortgage means it is time for a mortgage overview and financial checkup!


Did you know years ago, there was a practice called a “Mortgage Burning Party?”  This was done typically around the age of retirement to celebrate you now owning your home free and clear.  So it begs the question, should you be mortgage free at retirement?

Retirement Age: A Quick Look! It is about Money.

First and this fact is undeniable:  Retirement savings on average falls short of needed living expenses by almost 42%.  So does it make sense to be mortgage free with those statistics?  The truth is, in retirement your most powerful financial tool will be your mortgage.  However, let’s be very clear about the strategy.

Are we speaking of a reverse mortgage?  No. Not that those services don’t have their place in financial portfolios for most Americans at retirement or nearing retirement age.  But let’s look at what cash can be used for.

Just the Facts!

  • A refinance of your mortgage, with cash out enables you not to have to touch investments, retirement plans, or insurance policies.
  • A new and emerging issue for retired couples is long-term care.  If the pandemic has taught us anything, it would appear that nursing or assisted living facilities are not the alternative we once thought.  In-home care from a provider is the best care possible.
  • Be debt free otherwise.  Eliminating your credit cards, auto loans, costly timeshares, RV’s, secondary properties all makes perfect sense here.  Consolidate it into one payment.
  • Helping family.  The retirement generation is facing financial pressure from their kids, unlike any other generation.  Many are paying their kids’ bills.  A perfect strategy instead of sending them $2000 or $3000 a month would be to pay off their debt, such as their student loans.  It then becomes more manageable for you without having a serious impact on your cash flow.

Even when you are retired, your home can and will play a vital role in your finances.  Your home, not funds, 401K, annuities, is the most powerful financial tool you have.  You have the ability to leverage money that has never been cheaper.  In reality you are borrowing money for less than you are earning, with a much needed deduction!  This is a financial picture.

Times have changed.  Financial models have changed.  Mortgage burning parties are definitely a thing of the past.  Bear in mind that you don’t want financial issues when you pass for your family.  However, you have worked hard your entire life to enjoy this next phase.  A mortgage is a good debt.  Debt that will give you financial freedom, unlike earlier in life.  You now have options.  Use them.  We have specialists standing by to help you understand this phase of your “mortgage life.”  Let’s put a plan together that makes sense to use this asset for the next 5, 10, 20, or even 30 years.

Saving money, home loan, mortgage, a property investment for fut

Most people don’t realize what an important financial step refinancing is. Circumstances change, and mortgages should too. If you’re wondering whether or not you’re a good candidate, here are some of the top reasons why refinancing could be right for you:

  • Your mortgage interest rate is higher than the current market interest rate.
  • You have other debt you need to reduce; such as credit cards & student loans.
  • You’re planning to stay in your home for several years.
  • You want to make home improvements.
  • You want to pay off your mortgage sooner — going from 30 to 15 in your term.
  • You have college tuition to pay.
  • You have an adjustable-rate mortgage and you want to lock in a fixed rate.
  • Your credit score has improved.

Whether you’re looking to get a better interest rate or take equity out of your home for renovations, we’ve put together a step-by-step guide on why you should refinance and how to do it.

Why Refinance?  Let’s Run through the Top Reasons!

Your life changes and your mortgage should change with it. Whether you’re moving, staying put, have a lot of expenses, or experience a change in finances, making sure your home loan is keeping up with you is of the utmost importance. Your mortgage should always be your financial tool. It should always accomplish more than a roof over your head. 

Here are the most common reasons homeowners choose to refinance:

Your Mortgage Interest Rate Is Higher than the Current Market Interest Rate

Even a small reduction in your interest rate could save you a lot of money in the long run. A refinance can help you ensure you’re getting the lowest interest rate possible. The result? More money in your pocket, for you and your family.

You’re Planning to Stay in Your Home (This Matters)

There’s no better time than right now to evaluate the type of home loan you have. When you know you’re living in your current home for several years, refinancing is a great step toward setting long-term goals.

You Want to Pay Off Your Mortgage Sooner

When rates fall, you could refinance to a lower rate and a shorter term, helping you pay off your mortgage sooner.  You should never just default to a 30-year term.  You have options as aggressive as your finances and your goals.  What does your life look like at the end of your mortgage?

You Have an Adjustable Rate Mortgage and You Want to Lock In a Fixed Rate

If your payments are already fluctuating, it is time for a fixed-rate mortgage.  It will keep your payments steady. Your rate will stay constant in a rising-rate environment. Believe it or not, rates will rise!  It may be time to lock in for long term stability.

You Have Other Debt You Need to Reduce (Most Common!)

Do you have credit card debt, student loans, or any other high-interest debt? Non-Tax Deductible Debt? A cash-out refinance could help you reduce or eliminate your debt. Debt consolidation is one of the most popular reasons people refinance. 

It is all about the cost of money. When mortgage money is this low, you have to take advantage of today’s rates or cost of money.  Why pay a high interest rate, no tax deductibility, and lower your credit score?  Plus, you are paying more monthly.

You Want to Make Home Improvements

Would your home benefit from a new kitchen, new windows or an addition? A cash-out refinance is one of the most affordable ways you can fund home improvements.  Equity is power and the ability to create additional equity is driving long term value regardless of market conditions.  Especially if you are planning to stay long term.

You Have College Tuition to Pay

Refinancing with a cash-out option can help you or your loved ones reach their educational goals as well. Whether you’re returning to school or you’re paying for your child’s college tuition, refinancing could help make it happen. Student loans can be debilitating for your child, there is a better alternative.  Second biggest expense in your lifetime!

Your Credit Score Has Improved

If you’ve worked hard to improve your financial situation by paying off credit accounts that were weighing down your score, it’s time to call your Home Loan Expert. You could qualify for a much lower interest rate if your score has substantially improved.  Credit score matters. If you paid the price to get into the home, it is now time to take advantage of “A” credit interest rates.  Why continue to overpay on your single biggest bill!