It's time for a quick health check on your mortgage.
Did you know that refinancing can potentially save you thousands?
Dear ~Contact.FirstName~,
As you're now halfway through your first renewal period, I wanted to send you an email to discuss where your mortgage stands today, and possible options for refinancing.
With interest rates at historic lows, you can potentially save thousands of dollars and pay off your mortgage years sooner with some proactive refinancing!
Refinancing your Mortgage:
Take advantage of the fantastic interest rates on the market today by refinancing. Though there are some initial fees for refinancing, the positive effects of shaving a few percentage points on your total interest are well worth it!
Financing for other expenses:
Are you paying more than 4.5% on your credit card debt, student loans or auto loans? If so, we can do better! Why not consider refinancing to accommodate these expenses - you'll save big money in the long run!
Take a look at our Mortgage Health Check document below:
We've made an easy-to-read document outlining the money you can save by refinancing your mortgage today. Please review, and don't hesitate to contact me with any questions.
I look forward to hearing from you,
~LoggedInUser.HTMLSignature~
Mortgage Renewal (0 to 3 months left before renewal)
| Current Mortgage Mortgage (5.5%) |
Balance |
Monthly Payment |
| 5 Years Ago | $200,000 |
$1,220 |
| New Mortgage Mortgage (4.5%) |
Balance |
Monthly Payment |
| Beginning of Term | $200,000 |
$1,107 |
| Savings | $103 per month |
Mortgage Early Renewal (3 months to 2 years left before renewal)
| Current Mortgage Mortgage (5.5%) |
Balance |
Monthly Payment |
| Beginning of Term | $200,000 |
$1,220 |
| End of Term (Year 5) | $178,375 |
| New Mortgage Mortgage (4.5%) |
Balance |
Monthly Payment |
| Beginning of Term | $205,000 * |
$1,220 |
| End of Term (Year 5) | $174,281 |
|
Save $4,000 in just 5 years |
* The $205,000 represents the principal mortgage and fee for refinancing your mortgage.
Mortgage Refinance
| Current Mortgage |
Balance |
Monthly Payment |
| Mortgage (5.5%) | $200,000 |
$1,220 |
| Car Loan (7%) | $20,000 |
$400 |
| Student Loan (5.5%) | $5,000 |
$50 |
| Credit Card (11%) | $5,000 |
$150 |
| Total | $240,000 |
$1,820 |
| Consolidated Mortgage |
Balance |
Monthly Payment |
| Mortgage (4.5%) | $240,000 |
$1,328 |
| Car Loan (7%) | Paid |
$0 |
| Student Loan (5.5%) | Paid |
$0 |
| Credit Card (11%) | Paid |
$0 |
| Total | $240,000 |
$1,328 |
$500 savings per month |