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I want to refinance my 30 year loan into a 20 year term. How long does the process take?

by jefferson655 from Atlantic Beach, Florida. Sep 1st 2016 Reply


LOAN GENIUS (michael@myloangenius.com)
#274 ranked lender in Florida - 2 contributions

We typically close refinance loans in 2 weeks.Please call our office at 1-800-305-7085 or send me your number and a licensed loan officer will call you immediately. Loan Genius601 S Federal Hwy Suite 201Boca Raton, FL 33432NMLS ID 395946

Sep 1st 2016
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Aracely Viggiani (aasoutharacely@gmail.com)
#296 ranked lender in Florida - 3 contributions

HiDon't need to refinance just change your monthly payment to bi weekly and make extra payment at end year.

Sep 1st 2016
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Robert Hanke (rjhjr007@gmail.com)
#270 ranked lender in Florida - 6 contributions

Hello Jefferson655,This process generally takes about 30 days, can be less if you have the documentation we need available quickly. For more information please call, text or email me.R.J. Hanke - NMLS # 1134947Innovative Mortgage Services - NMLS # 250769Cell 386-717-0253rj@innovativemortgage.biz

Sep 1st 2016
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Aracely Viggiani (aasoutharacely@gmail.com)
#296 ranked lender in Florida - 3 contributions

Hi Jeff,Just turn your monthly payment into bi-weekly and make extra payment at end of year.That process is just calling your lender and change method of payments.Hope this work for you and any questions call me at 239-580-7099Aracely ViggianiAA South Florida Mortgage

Sep 1st 2016
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The process normally takes 45 days. But, you should consider a 15 year term as this provides a better rate

Sep 2nd 2016
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The process normally takes 45 days but you should really consider a 15 year term as it provides a lower rate

Sep 2nd 2016
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Ralph Richard Guertin (ralph@absolutelowrates.com)
#136 ranked lender in Florida - 637 contributions

HI Jefferson655, Refinances with the BEST lenders in the country takes a little longer than 2 weeks, but the lower rate is worth it. I would also show the the difference between a 20 yr and 15 yr fixed if you qualify for both and if it make sense to you we pick the one that works best for your situation. Call or email me at 954-274-7725 or ralph@absolutelowrates.com..Ralph Guertin and I specialize in the state of Florida in delivering the lowest rates over the last 15 years...

Sep 2nd 2016
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Scott Fix (ScottFix)
#1325 ranked lender in California - 184 contributions

I think the most appropriate question to ask yourself is, what benefit will you derive from a refinance from 30 to 20 or even 15 years? What is your current rate? Is it competitive? If you have a favorable rate, why not just amortize the payments yourself and pay more on your current mortgage to scale it to a 20 year or 15 years term. If there ever becomes a hardship, and you need to lower back down to you actual payment, you can do it and adjust each payment with comfort. NOW, if you do not have a favorable interest rate, take advantage of the current rates. If you have an FHA or VA loan, streamline!!!! Truthfully look at the costs of refinance with a seasoned and trusted loan professional before you pull the trigger!! All the best, Scott.

Sep 2nd 2016
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,446 contributions

You will find that the vast majority of lenders will put the typical time frame for a home loan from beginning to end at about 30-days. It could be a hair faster if everything goes perfect, and it could be a hair longer if you have any hurdles. I would shy away from anyone with claims of anything significantly less, as there are simply way too many things outside of the lenders control for anyone to regularly close files in less than 30-days.

Sep 6th 2016
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