THINKING ABOUT REFINANCING?
Important - please read this!
SEP 2020
Right now, some homeowners are researching refinancing online. And they’re seeing low rates – rates they’d love to lock in. Or they talk to someone - a neighbor, friend or co-worker - who got “a great rate.”
The first thing we’re hoping you'll remember: Every mortgage loan has two parts - the rate and the points. And the points really matter.
Online lenders know borrowers want low rates. They also know borrowers get confused about points, or forget about them altogether. But points can quickly turn a great rate into a bad deal for you.
A borrower came in to see if we could match a rate they’d found online. They were shocked when they learned that – while the rate was a little lower – they’d be paying two points (that’s a lot!) to get it. With those two points, it would be years before they saw any savings. They were actually better off staying with the mortgage they already had. Which is what they did.
Mortgage companies have no incentive to tell you not to refinance with them.
And just because someone else says they got “a great rate” doesn’t mean they got a good deal. You’d have to know all the specifics to be sure, and – even then – what’s right for someone else might not be right for you.
The second thing we're hoping you'll remember? You can talk with us first! At Canton Co-operative, we say we treat homebuyers right ... and that applies to refinancers too. Our only goal? To have you be sure that you got a deal that's good for you.
If you have spoken with another lender, they have to give you a Loan Estimate within 3 days of your application. When you have that, call Canton Co-operative VP/Senior Loan Officer Anabela Vargas at 781-828-8811 x37 or email for a quick review. If you’ve found a better deal, we’ll tell you so honestly with no “hard feelings.” If it’s not better, we’ll show you exactly why. Promise.
Canton Co-operative Bank NMLS #721437
Anabela Vargas NMLS #582849 – Falo Português.
JOIN US ON ZOOM!
Free HomeBuyers Info Session Saturday, September 26th ... on Zoom
Getting ready to buy your first home? Or are you selling a house, then buying a new one and getting a mortgage for the first time in years? You're invited to take part in this popular free small-group workshop from wherever you are because this one’s on Zoom. The Zoom room will open at 9:45AM. Program will go from 10 to 11:30AM.
Finding a property, arranging your financing and protecting yourself legally are all big steps. Which is why people love having the opportunity to get straight answers to their important questions from Canton Co-operative VP/Senior Loan Officer Anabela Vargas, top local REALTOR® Mikel DeFrancesco and expert real estate attorney Michelle Tiews. Register online at cantoncoopbank.com or call Anabela Vargas at 781-828-8811 x37.
Canton Co-operative Bank NMLS #721437
Anabela Vargas NMLS #582849 – Falo Português.
News from the 2020 Annual Meeting
Stan Taylor elected to Canton Co-operative's Board of Directors
Senior VP & Chief Lending Officer Stan Taylor retired from the Bank and was elected to the Board of Directors at Canton Co-operative’s 2020 Annual Meeting. President & CEO Nick Maffeo said, “Stan Taylor is an invaluable resource and a trusted advisor to both customers and the management team. We’re delighted to have Stan on the Board of Directors.”
Kelly Howard promoted to VP/Controller at Canton Co-operative Bank
Kelly Howard was promoted to the newly-created position of VP/Controller at the 2020 Annual Meeting. “Kelly is knowledgeable, experienced and super-diligent, exactly what any company would want in their Controller,” Nick Maffeo said. “Everyone likes working with Kelly, including our customers. For taking on an expanded role and doing so well, she earned this promotion and deserves it.”
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