Citigroup homeowners that may be looking for a better mortgage rate might be able to get a mortgage rate on a 30-year fixed mortgage for around 5%. Many homeowners are getting rates at or below 5%, which is substantially dropping many homeowners’ mortgage interest rate.
Homeowners that are looking to refinance may be in a good position to get this rate and get money back from equity built up in their home as well. Many people refinance for this reason, but as of late, homeowners have been looking for a lower mortgage rate in the hopes of getting a better, lower mortgage payment.
Those who refinance their home loan and get money back can also put that money toward the principal on their home, which is going to benefit them in costs as well.
Homeowners are advised though, to make sure that buying a home for the 30-year fixed rate mortgage or refinancing their home for the 30-year fixed is going to be in their best financial interest. Looking at options from lenders outside of Citigroup may be beneficial as well, but any homeowner or homebuyer needs to make sure this is in their best interest before proceeding.