We just locked in a No Closing Cost, No document required, VA refinance at 3.75% for a $415k loan. That's right, a Veteran that already had a great interest rate of 4.25% was able to reduce his interest rate to 3.75% with absolutely zero cost - not even an appraisal charge.
Listen, if you're looking at ways to cut a few hundred out of your monthly budget - I implore you to look here first - let's take a look at your current mortgage payment and your options.
On average - we're reducing conventional Loans by .5% and on average the VA and FHA loans we're either reducing by .5% or in the case of the FHA we're converting to the conventional loans and reducing their payments by a considerable amount.
Quick numbers for you:
$415K at 4.25% = $1967 per month
$415k at 3.75% = $1852 per month
Savings of $115 per month at absolutely zero cost.
If you have a Conventional loan with a rate over 4% - we should talk.
And if you have an FHA loan that you've had for more than a year, the chances are that there is equity in the home and the mortgage insurance of $150-$500 per month can be removed - and likely at zero cost.
For a free consultation please email nnelson@mmcdcorp.com
Nathan R. Nelson
Mortgage Consultant #247654
Corporate Builder Division
Office: 510-362-0464
Direct: 925-623-1019
E- Fax: 844-387-8141
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