I hope everyone is enjoying their spring and upcoming summer. This year we are doing something different with our summer newsletters. Over the next three months we will be featuring articles and information from some of our top vendor/partners. I think you will find this information very valuable because they all have something different to offer that you may not know about. This month we are featuring two blogs from my friend Lori Richardson at Cornerstone Home Lending. Read this information below on an Annual Mortgage Review and the potential outcomes moving up or staying in your current home can have on your net worth. As always if there is anything you need real estate related or otherwise please feel free to reach out to us at the Colorado Dream House Team 720-446-6325 or team@coloradodreamhouse.com

Happy Summer






Share to   Share to Twitter   Share to Facebook
Reply with Video

Are You Leaving Money On The Table?

Why Your Mortgage Needs An Annual Check Up

We all know that some home maintenance items are well served by an annual checkup including gutters, heating and cooling systems, and chimney's, to name a few.

But what about your mortgage?

I'm often asked why a homeowner would need to have an annual review of their mortgage. My team and I do an annual mortgage review with each of our clients every year and I can tell you there are lots of reasons! Here's a great example!

During my Annual Mortgage Review with one client we found that, overall, they were in great shape. The interest rate on their current mortgage was 3.875% when rates were currently in the low to mid 4% range. Nothing to do there. HOWEVER, as we talked the conversation lead them to ask...are we HAPPY in our current home?

It turns out that they had outgrown their space but had concerns that buying a larger home would not be in their best financial interest over time. With that in mind, we created a Total Cost Analysis showing them three possible options based on their financial situation, goals and dreams.

  • Option 1 - Keep their current home.
  • Option 2 - Move Up Now - Purchase a new home at $650,000 using all proceeds from the sale of their current home toward down payment.
  • Option 3 - Move Up Now and Reinvest - Purchase a new home at $650,000 using 20%  of the proceeds from the sale of their current home as down payment, and investing the rest in the stock market or an investment property.

CLICK HERE To See the Full Analysis

Check out what we found could happen to their net worth in 15 years (assuming a 3% 

appreciation all properties)! 

As you can imagine, our clients were shocked and thrilled to see a potential of up to $200,000 growth in their net worth over 15 years. It turned out that they could move up to their dream home AND build their wealth all at once!

The Bottom Line

Being in the right loan at the right time is crucial.  Whether you’re considering moving up, downsizing, purchasing an investment property, home improvements, or anything else, an annual mortgage review can reveal options that you didn't even know were there!

If you'd like my team and I to review your mortgage and help you look at your options, we are happy to help! Call or text us at 720-200-6868, or email us Loansbylori@houseloan.com


Lori Richardson

Vice President

NMLS 272264





© 2016. Cornerstone Home Lending, Inc. Company NMLS #2258. Corporate Phone (713) 621-4663. Cornerstone Home Lending, Inc. is not endorsed by, nor acting on behalf of or at the direction of, the U.S. Department of Housing and Urban Development, Federal Housing Administration, the Veterans Administration, the U.S. Department of Agriculture or the Federal Government. This material is informational only and does not constitute an offer to lend or recommend available products.  This is not an advertisement to extend credit as defined by Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting guidelines and approval based upon the credit, assets , value of subject property and borrower’s ability to repay.  Not all applications may be eligible for or qualify for all loan products offered.  All loan programs, terms and conditions are subject to change without notice.  This material does not constitute tax advice or financial planning. Loan Programs Not Available Outside of Colorado. Equal Housing Opportunity.