1. The Mortgage Itself:
It never hurts to reach out to your mortgage lender each year just to check in and see where the market is. You may be pleasantly surprised to see a drop in rates that allows a refinance to save you money. There also may be new programs that allow you to drop your PMI if you have PMI. The ten minute call is worth it if nothing else just to check in.
2. Homeowners Insurance:
Shop it every now and then. At a minimum contact your agent once a year and see if there is a way to get the same coverage and lower premiums. We recommend a $2500 deductible to most clients. If your deductible is lower have your agent run the numbers with the higher deductible to see if changing over makes any sense.
A little more time consuming but every few years see if you can pull comps of homes sold in recent months. Ask your real estate agent where values are. If there has been any significant drop its always worth a quick all OR visit to the Tax Commissioners office to see if they are willing to lower your annual tax bill.
As always call your lender with any specific mortgage questions!
Max A Kallos
recognized in ‘Atlanta’ Magazine as a Five Star Mortgage Professional
Endorsed by Emmy Winning Consumer Advocate Dale Cardwell!