I currently have a mortgage for a 235k home, I believe there is 60-70% of the loan to value still there. My credit is decent, roughly around 760 and my wife and I have been working for more than two years. We bring home a combined total of 85k before taxes and haven't been late on our mortgage once. We started with a 30 year and we're roughly 9 years into it. Can I refinance into another or should I do a 20 year, and if so will I get the 4% rate? I think my payments would be cheaper if I went from a 7.785% rate to 4%.
Sugar Land,TX | Dec 21st 2011
by jessie_...
Answer
by Martin
From what you've told me so far I think I could do this loan at 3.875% with no closing costs (lender would pay all your lender and title fees). You could also go down to a 20-year fixed at 3.75% with no or very low closing costs. To find out for sure you would need to fill out a loan application.Martin Farris325-651-2100 Dec 21st 2011
by cnealVA
by lbennett
by info@gl...
by PaulJoh...
Jesse, you've been given several good options, yet to truly understand your goals and what is possible you'll need to speak with one of us. I would encourage you to reach out to myself and one other Texas based lender to compare programs. You may reach me at 866-752-5322 or visit our website at www.texasstatemortgage.com - I look forward to speaking you with. Dec 21st 2011
by BertCar...
To answer your last question first, Absolutely you can improve you financial condition significantly by refinancing. My best advice is to contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank. He/She will also be able to work up several different scenarios that will show you what will happen to your rate and payment with various different terms. If your current payment is not uncomfortable, then looking at a shorter term and a much lower rate may be the answer. Either way your chosen Mortgage Banker/Broker can properly guide you. Make sure you check out the credentials and history of your chosen Originator at www.NMLSConsumerAccess.org. Dec 21st 2011
by paulm@m...
Hi Jessie, As you are finding out, there are many factors to consider when calculating your best option. This is the reason I spend much of my time discussing your reasons and your goals. Your question is one many people I speak with ask everyday. Time and a few minutes on the phone will help us calculate the best option. Thanks for your question. Dec 21st 2011
by Chalet ...
Jessie, It sounds like you are in the perfect position for a refinance and there is definitely the opportunity for significant savings with rates below 4%. I am a local loan originator in your area and would love to discuss your options with you. Having a local lender makes the process easier as they are familiar with the unique conditions of your property and more accessible during the application process. My goal is to be by your side every step of the way and even at the closing table to insure you have the most stress free process available. Please contact me at 281-798-8838 or chalet.morella@sbcglobal.net and I look forward to hearing from you!Chalet Morella, Senior Loan Officer, Texas Supreme Mortgage Dec 24th 2011 |
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