Offer this, buy this, accept my guest post this. Ugh!
I’ve been working more diligently to check my email only a few times per day, but there’s one email in particular that I’m glad that I noticed.
About a year or so ago, I signed up for a free service called Credit Sesame. Credit Sesame is an online site that specializes in informing their customers of their credit score changes or any possibilities that they can maybe save money on refinancing a home or any of their debt.
Since it was free, I thought what the heck, I’ll try it out. Once you sign up, they occasionally email you when they feel that there is an opportunity that you can benefit from.
Please note, their emails are very infrequent, so don’t worry about getting flooded with hundreds of offers.
Refinance Again? Yeah Right!
We recently built a new home and locked in a 30-year rate at 5%, which at the time we were tickled with. Not even nine months later, rates dropped and we refinanced to a twenty-year mortgage at 4.25%. Never in my life would I ever think that I would refinance again.
Earlier part of last year, the stock market started to teeter, which it seems like it’s been doing every day here lately, and once again, rates started to fluctuate.
I kept meaning to call my mortgage broker to ask him about rates, but it always seemed like something got in the way. Then one day I received one of those handy emails from Credit Sesame that said,
“Based on your situation, it may be possible for you to refinance and save hundreds dollars”.
That email is all I needed to prompt me to call my banker.
Also note, Credit Sesame can also get you plugged in with various lending institutions if you don’t have a trusted banker to go to.
Calling the Banker
After reading the email, I immediately, and I mean literally immediately, called my banker to find out if it was really a possibility for us to refinance again.
It didn’t take him long to get back to me to inform me that we could lock in a fifteen-year mortgage at 3.375%. Doing some quick calculations, factoring in closing costs, it was a no-brainer. The extra couple hundred bucks a month wouldn’t hurt us and the idea of having our house paid off before our oldest son graduated high school was very, very enticing and that’s what we did.
Can it get even more exciting than that? It can…..
Being the numbers freak that I am, I had to plug the numbers into a mortgage calculator to see how much in interest we would be saving.
The magic number was $70,185.17.
Over $70,000 from getting an email from my friends at Credit Sesame. I heart them. 🙂
I know Credit Sesame can do many other things for many other people, but for me, I’m thankful for signing up and getting informed about refinancing. If you’re like me and you need a friendly reminder every once in a while.
I encourage you to sign up for a free Credit Sesame account today.