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Mortgage refi options?

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January 28, 2022, 09:29 AM
Timdogg6
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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January 28, 2022, 10:27 AM
Jimineer
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.
January 28, 2022, 10:34 AM
RogueJSK
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.