“Crying? Are you crying? There’s no crying in baseball…NO CRYING!” This perhaps is the most famous line from the movie A League of Their Own, starring Tom Hanks. The movie focused on the town of Racine, home of the Belles, and the quote certainly applies to the city of Racine. There’s no crying if you live there.
Racine is also home to the Racine Raiders, one the oldest and most respected minor league football teams in the country. Racine was also the subject of a 2006 documentary about its annual “mega-prom” in the film, The World’s Best Prom. And according to Forbes magazine, Racine is home to at least four billionaires. Are you getting the picture here? Racine seems to be at the top of the charts in every category. Why not move there?
The first thing you’re going to need is a house to raise your burgeoning family of overachievers (This just happens in Racine. There must be something in the water) is a good mortgage. The first step is to get the type of loan that’s best for you. Do you plan on staying in the home for awhile? In that case, a fixed rate mortgage is probably for you. Do you plan on living there just a few years and want the payment as low as possible in the beginning? An adjustable rate may be what you are looking for. Let’s compare and contrast both.
If these two types of loans don’t meet with your expectations, check with your lender. In the last 10 years, a host of other loan options have become available. After you decide what kind of loan you want, you might consider pre-approval. Going into the home buying process with money in hand is much easier for all involved. This is where pre-approved loans come into play.
PRE-APPROVED LOANS
Pre-approval is usually the way to go for two reasons:
MORTGAGE REFINANCE LOAN
What if you already live in Racine, and you are just looking for a mortgage that fits your needs a bit better? For example, if back when you bought your house, interest rates were at an all time high, and you want to lower that rate, it may be time to refinance. There are lots of reasons to refinance your home, but a mortgage refinance loan is very simply, a brand new loan on your existing house. Pick a new loan, and pick from options like cashing out the equity you’ve built up, and you’ll be on your way to happiness with your mortgage.
HOME EQUITY LOAN
If the idea of paying off your car, your kid’s education, or finally getting to take that dream vacation is attractive to you, but you don’t want to refinance your existing mortgage, a home equity loan may be what you are looking for. With this type of loan, you can get your money in one lump sum or you can space it out over time with a home equity line of credit. With the first option, the home equity loan, you begin paying interest on the full amount immediately. With the home equity line of credit, you only pay interest on the amount you’ve borrowed.
Whether you’re looking for a Racine mortgage, refinance, or home equity loan, we can help. Take a moment to fill out the form below, and a qualified lender will contact you right away.
