Located in Jefferson parish, Kenner experienced a growth spurt in the late 1950's when developers began subdividing, draining and filling the swampland in the northern half of town. During the 1960's, the construction of Interstate 10 and improvements to Veteran’s Memorial Highway helped Kenner grow into a first-rate city.
Kenner is home to some truly remarkable gems. There is the Treasure Chest Casino, docked on Lake Pontchartrain; the Rivertown district , with its museums, shops, planetarium and science museum (sponsored by Freeport McMoran), two fine dining establishments, and a cafe. And beautiful Laketown park offers a boat launch, pier, pavilions, a jogging/biking path, and a concession stand and bait house.
Like all of the Gulf Coast, Kenner, Louisiana is still recovering from Hurricane Katrina, but community pride is rebuilding this beloved town. The average home price in Kenner is only $140,000, a bargain for such a lovely, warm community. However, there are a few things to keep in mind when shopping for your Kenner refinance, mortgage or home equity loan. First, if you are shopping for refinance or home equity loans, check to see if this is truly a viable option for you. While they can be a great idea for some, whether to make a few home improvements or pay off some old debts, if you do not have enough equity in your home to justify it, it is a mistake. If you do have the equity in your home to justify a cash-out refinance or a standard home equity loan, though, there are a lot of benefits to think about.
First, consider the lower interest rates you might get. With a refinance or a home equity loan, the chances are pretty good that you will not only get a lower rate than you got on your first mortgage, but if you are using the cash to pay off old debts, you are going to get a much lower rate than you might have on those other debts. For example, if you are using the cash you get to pay off credit card debts, those interest rates might be as high as twenty-three percent. The rate on your refinance or home equity loan could be much, much lower than that depending on your credit score. Moreover, the interest you pay on your refinance or home equity loan is deductible on your yearly income taxes, which is just not true for the interest you are paying on other debts.
Second, you should definitely think about the flexibility a home equity loan or a refinance might offer you. If the rates are low enough when you apply, you can lock that rate in and make much lower payments over the life of the loan. If you choose to go with a home equity line of credit, you could use the equity in your home to access cash on a regular basis at a low interest rate, which is a bit more than you can say for your typical credit card company.
If you are ready to apply for a Kenner refinance, home equity loan, or a first mortgage, there are several things to consider. First, think about your current financial situation. Talk with your lender about how much loan you can truly afford to repay, and discuss non-traditional loan options to see if they are right for you. Remember that the loan you borrow will be secured by your home, and if you fail to repay it, your home will no longer be yours. Second, think about how long you want to be repaying the loan. Most loan terms are for between fifteen and thirty years, and the shorter your term, the less interest you will pay over the life of the loan, but decide what payment amount is best for your individual financial situation. Finally, as you get the paperwork for your new loan, review it carefully. You will see a Good Faith Estimate that discloses all of the closing costs of your loan and a Truth in Lending Act statement that helps you understand what is factored into your APR.
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