Mortgage Refinance

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Asked by Tony
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
The answer to your question depends on many factors, Tony. How much equity do you have? What will you use the funds for? How likely are you to use the cash to pay d...
Q&A
Asked by Gina
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
It's all about a cost/benefit analysis for your particular loan, rather than a "refi if your rate drops by 1%" or other general "rule of thumb". It may not pay to ref...
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Asked by Gina
Answered by Chad Freeman, Branch ManagerPRO+ in Bethesda, MD
Gina: The answer you received from Nic is correct. Another term you may hear is "underwater" which means the same thing. Note that although someone may be "upside d...
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Asked by Lynn
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
Reverse mortgages are a great tool, in certain circumstances, and an expensive mistake in others. Their interest rates and costs are higher than typical mortgages, an...
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Asked by Joseph
Answered by Nic Netherton, Mortgage Broker in Fort Collins, CO
Private mortgage insurance is generally charged with conventional mortgages, mortgage insurance (MI) is charged on government loans (FHA).
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Asked by John
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
All good points above, particularly using a loan officer who tracks MBS trading in real time, and who understands the factors that influence rates. Shorter term locks...
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