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Guidelines for
making a mortgage decision for purchasing property in CITY |
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Benefits
Of Refinancing |
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1. |
Refinance
to pay off your 1st mortgage and reduce your mortgage rate
and monthly payment. |
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2. |
Refinance to pay off your 1st mortgage and
take out some extra cash. |
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3. |
To pay off your 1st and 2nd mortgages (excluding
home equity lines) and reduce your mortgage rate and monthly
payment. |
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4. |
To pay off your 1st and 2nd mortgages (including
home equity lines) and take out some additional cash. |
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5. |
To pay
off your 1st mortgage and your home home equity line, closing
your home equity line to any further advances. |
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6. |
To pay off your 1st mortgage and your home
equity line, paying the home equity line balance to zero but
leaving the equity line open to further advances. |
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7. |
To pay off your mortgage(s) and reduce your
mortgage term (i.e. refinancing a 30 year to a 15 year). |
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8. |
You currently have no mortgage liens on your
property and wish to obtain cash by applying for a 1st mortgage. |
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9. |
You
currently have a construction mortgage loan and wish to pay
it off and obtain permanent financing. |
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