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Interest rates have been on the rise and recently reached a high that hasn’t been seen since the 1990’s, according to TIME. We have recently seen a downturn in interest rates. In response, Legacy Mortgage has rolled out an initiative to help Upper Valley residents refinance their homes at the perfect time for them utilizing the Legacy Rate Watch system

Legacy Rate Watch

The Legacy Rate Watch system was designed with a set it and forget it format. Legacy Rate Watch allows borrowers to set their goals and expectations for their refinance and then forget it and let our team handle the rest.

“We pride ourselves on our service to our clients,” said Legacy Mortgage Co-Owner Rob Messenger. “Legacy Rate Watch gives us the opportunity to provide that service to anyone who is inquiring about the current refinance opportunities.” will take you to a page on the Legacy Mortgage website with a form requesting basic information about your current mortgage. The team will reach out with any questions otherwise they will immediately look at rates to determine what makes the most sense for your refinancing scenario. You will be contacted when rates are in your favor for an advantageous refinance.

Why Do Interest Rates Matter?

If you recently bought a home it’s common to wonder if it’s worth It to refinance for a small drop in the interest rate.

Fox Business breaks down an example of what you can save by refinancing your home loan in the event that rates drop just 1%.

“For example, consider a mortgage loan for $300,000 with a fixed interest rate of 4.5 percent and 30-year terms. Over the life of your loan, you’ll pay a total of $547,220 (or $247,220 in interest). Monthly payments on this loan would be about $1,520.

If you get the same loan at 3.5 percent, the cost of your investment over 30 years will be $484,968 ($184,968 in interest). Monthly payments on this loan would be about $1,347.

In this example, a 1 percent difference in interest rate could save (or cost) you $173 per month or $62,252 over the life of your loan.”

This is a basic example looking at the 30-year-fixed mortgage. The impact a refinance can have on your expenses is significant and the higher the rates the more dollars saved. 

Who is Legacy Rate Watch For?

Recent home buyers with a higher rate are an obvious candidate for Legacy Rate Watch. They stand to save significant money both on their monthly payment and in the interest over the life of their loan with a refinance.

Cash buyers can also benefit from Legacy Rate Watch. If a cash buyer is looking to liquidate some of their investment, rates are trending in a direction that might make it a good time to do so. Cash buyers often decide they want to utilize their cash for another opportunity.

Removing your mortgage insurance premium is another reason to refinance. Mortgage insurance is required for loans with less than 20% down payments; MIP is associated with FHA insured loans and PMI (private mortgage insurance) is associated with conventional loans. This premium can add $100+ to a monthly mortgage payment. With the recent increase in home values, now might be the perfect time to refinance and remove your mortgage insurance.

Another common reason to refinance is for home improvement projects. If you’ve been wanting to tackle a big project or investment Legacy Rate Watch will allow you to communicate your goals to an expert on the Legacy Mortgage team and optimize your opportunity to refinance and pull cash out of your property.

We designed Legacy Rate Watch because we know how important it is to feel confident when making the decision to refinance. The Legacy Rate Watch system gives us the ability to gather information from you to ensure your refinance is perfectly timed and as beneficial to you as possible. If you’re ready to learn more about your refinance options visit and sign up today!

>>>>>>>>>>  Sign Up for Legacy Rate Watch Today  <<<<<<<<<<

The Legacy Mortgage team collectively boasts over a 120 years of industry experience and is well versed in a variety of loan programs including fixed mortgages, ARMs, VA loans, FHA, first time homebuyer and more!  We have the privilege of partnering with the best local agents, appraisers and attorneys the Upper Valley has to offer. When you work with Legacy Mortgage you are working with the best local professionals from beginning to end. Reach out to the Legacy Mortgage team to get the loan process started. Call us today, 603-643-7400.