This is the #1 question I hear from homeowners in Centennial. You worked hard for that low interest rate, and giving it up feels like a mistake.
But recently, I've been helping a specific type of client navigate a hidden financial trap. We call it the "HELOC Squeeze."
Q: What if my monthly payments are going up, even with a fixed rate?
A: If you took out a Home Equity Line of Credit (HELOC) a few years ago to renovate your kitchen or finish the basement, that variable rate has likely tripled. Even if your first mortgage is cheap, your blended monthly payment might be higher than if you sold and bought a smaller home.
I use a specific calculator to help Centennial homeowners see if they are actually losing money by staying put. Contact me if you want to run the numbers on your property.
