Mortgage refi options?

I am a real estate attorney for the last 20 years.

Approach all with caution.
Also, the price the rate difference between a 15 and 30. A 30 that you pay at the rate of a 15 year is usually the better option.

It allows you to reduce your monthly payment later if the economy shifts or you lose a job.

Just something to consider. If your in FL let me know I have some great lenders who would take good care of you.

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Posts: 5412 | Location: Boca Raton, FL | Registered: July 30, 2002

Ignored post by Timdogg6 posted

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Jimineer

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quote:
Originally posted by Timdogg6:
I am a real estate attorney for the last 20 years.

Approach all with caution.
Also, the price the rate difference between a 15 and 30. A 30 that you pay at the rate of a 15 year is usually the better option.

It allows you to reduce your monthly payment later if the economy shifts or you lose a job.

Just something to consider. If your in FL let me know I have some great lenders who would take good care of you.

I’m in Oklahoma but thanks for the offer to help.

Posts: 3988 | Location: UNK | Registered: October 04, 2009

RogueJSK

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quote:
Originally posted by Timdogg6:
A 30 that you pay at the rate of a 15 year is usually the better option.

It allows you to reduce your monthly payment later if the economy shifts or you lose a job.

That's exactly what I did with my current mortgage. 30 year mortgage at 2.25%, but I pay it at a rate where it'll be paid off after 14 years. That way, if something happens financially, I can drop down to just paying the basic house payment for however long it's needed.

Posts: 35207 | Location: Northwest Arkansas | Registered: January 06, 2008

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