Money Watch Q & A: Mortgage Options - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Money Watch Q & A: Mortgage Options

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Is your mortgage right for you?

How to make sure you have the best option available is the focus of tonight's Money Watch Q & A. Shivani Peterson is with Lendclear - a national lending company headquartered here in Reno. 

If you have any questions about mortgages, call 858-2222 between 5 p.m. and 6 p.m.

Given the current interest rate market, it is a good time to review your housing expense and make sure it's in line with your personal financial plan for 2015. Many homeowners in Northern Nevada saw their property value increase significantly in 2014, which also makes it an ideal time to have your mortgage reevaluated.

Interest rates are still very low; significantly lower than they were predicted to be at this point. If you're renting, you may be surprised to find out how much you could save monthly by owning your home instead.

For those who are already homeowners, comparing your mortgage to current loan options can be very eye opening. You might be able to lower your interest rate, shorten your loan term, remove the mortgage insurance on your loan or get some cash out to pay off higher interest debts like credit cards.

To get a move on financial planning for the new year, make an appointment with your mortgage advisor now to discuss the best strategy for you in 2015.

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