When mortgage rates fall, you can take advantage of the opportunity to refinance to a lower rate. Lower rates can help you accomplish a number of financial goals:
If you refinance the same loan term (for example, 30-year) at a lower rate, you'll have lower monthly payments. Be sure to review the total interest paid on the amount you originally borrowed and the refinanced amount to ensure that you are comfortable with this overall expense.
You can take advantage of lower rates and switch to a shorter-term loan, allowing you to pay off your loan sooner. You may have a higher monthly payment, but your total interest payment will be reduced significantly by switching to a shorter-term mortgage.
An Adjustable-Rate Mortgage (ARM) lets you take advantage of lower rates in the market as they occur. If your ARM rate adjusts higher than you want, you may be able to refinance to a more favorable ARM or fixed-rate mortgage.
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Pennsylvania : Licensed by the Pennsylvania Department of Banking and Securities under Mortgage Loan Correspondent Lender License #45072, NMLS# - 50211.
South Carolina : DCA Mortgage Broker License NMLS# - MB-1602200.
Tennessee : (Mortgage License# - 115450).
Texas : Licensed by the Texas Department of Savings and Mortgage Lending, License # 1020884.
In Texas - Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the TEXAS department of savings and mortgage lending, 2601
NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550.
The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for
reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, Please consult the department’s website at www.sml.texas.gov.